Corner Grocers reported the following for its two most recent fiscal years:

Calculate the following for the year ended December 31, 2012:
1. Current ratio
2. Accounts receivable turnover ratio
3. Inventory turnover ratio
4. Return on assets
5. Return onequity

2012 25,000 20,000 60,000 55,000 80,000 2011 December 31 Cash Receivables (net) Merchandise inventory Plant assets (net) Total assets Accounts payable Long-term notes payable Common stock Retained earnings Total Liabilities and Shareholders' Equity Net income for the year ended 12/31/12 Sales (all sales were on account) Cost of goods sold Interest expense 70,000 30,000 260,000 $420000 380,000 62,000 100,000 122,000 96,000 $420,000 380,000 45,000 62 75,000 135,000 165,000 450,000 210,000 1,500