Your best friend Evander Jones has been given a project by his new boss at the Bank. Evander Jones has never used one of those inappropriate web sites to cheat or plagiarize on his exams. The boss truly appreciated Evander Joness work ethic and well as the honesty. Below are the financial statements of a major client. Do We Cheatem & Howe Corporation 2019 and 2020 Statement of Financial Position ASSETS LIABILITIES 2019 2020 2019 2020 CURRENT ASSETS CURRENT LIABILITIES Cash $21,860 $22,050 Accounts Payable 19,320 22,850 Accounts Receivable 11,316 13,850 Notes Payable 10,000 9,000 Inventory 23,084 24,650 Other 9,643 11,385 TOTAL Current Assets $56,260 $60,550 Total Current Liabilities 38,963 43,235 Long Term Debt 75,000 85,000 FIXED ASSETS Net Plant & Equipment $234,068 $260,525 OWNERS EQUITY Common Stock 25,000 25,000 Retained Earnings 151,365 167,840 TOTAL OWNERS EQUITY 176,365 192,840 TOTAL ASSETS $290,328 $321,075 TOTAL Liabilities & OE $290,328 $321,075 Statement of Comprehensive Income 2020 Sales $305, 830 Cost of Goods Sold 210,935 Depreciation 26,850 Earnings Before Interest & Tax $68,045 Interest Paid 11,930 Taxable Income $56,115 Taxes (35%) 19,640 Net Income $36,475 Dividends $20,000 Additions to Retained Earnings $16,475 Your boss wants you to do to the following; 1. Calculate the Following Ratios for 2020 (show all your work); Current Ratio, Quick Ratio, Asset Turnover Ratio, Inventory Turnover, total Debt ratio, debt to equity ratio, times interest earned ratio, Profit Margin, Return on Assets and Return on Equity. 2. The client has asked for a $9.3 million loan. Based on the ratios above which ones do you believe are most important to a bank and why? Make a recommendation (short paragraph) should the bank lend the client the money? Why or Why not.