The Jimenez Corporation?s forecasted 2020 financial statements follow, along with some industry average ratios. Calculate Jimenez?s 2020 forecasted ratios, compare them with the industry average data, and comment briefly on Jimenez?s projected strengths and weaknesses.

Jimenez Corporation: Forecasted Balance Sheet as of December 31, 2020AssetsCash .................................................................................................. $ 72,000Accounts receivable ......................................................................... 439,000Inventories ........................................................................................ 894,000Total current assets .................................................................... $1,405,000Fixed assets ...................................................................................... 431,000Total assets ................................................................................. $1,836,000Liabilities and EquityAccounts payable ......................................................................... $ 332,000Notes payable .................................................................................. 100,000Accruals ............................................................................................ 170,000Total current liabilities ................................................................. $ 602,000Long-term debt ............................................................................... 404,290Common stock ................................................................................ 575,000Retained earnings 254,710Total liabilities and equity $1,836,000

Jimenez Corporation: Forecasted Income Statement for 2020Sales ............................................................................. $4,290,000Cost of goods sold ........................................................ 3,580,000Selling, general, and administrative expenses ............. 525,456Earnings before taxes (EBT) ........................................ $ 184,544Interest expense ............................................................... 40,000Earnings before taxes (EBT) ....................................... $ 144,544Taxes (25%) ....................................................................... 36,136Net income .................................................................. $ 108,408Jimenez Corporation: Per Share Data for 2020EPS ...................................................................................... $ 4.71Cash dividends per share ................................................ $ 0.95P/E ratio ................................................................................... 5.0Market price (average) .................................................... $23.57Number of shares outstanding ...................................... 23,000

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Industry Average* Ratio Jimenez Quick ratio 1.0 Current ratio 2.7 Inventory turnover Days sales outstanding Fixed assets turnover 7.0 32.0 days 13.0 Total assets turnover 2.6 Return on assets 9.1% Return on equity Profit margin on sales 18.2% 3.5% Debt-to-assets ratio 21.0% Liabilities-to-assets ratio 50.0% P/E ratio 6.0 Market/Book ratio 3.5