The following information (in $000) has been obtained from Patinka Limited's financial statements for the fiscal years ended December 31. 

There were no preferred shares issued by Patinka nor were there any dividends paid in any of the three years. 

Instructions 

a. Calculate the following items for Patinka Limited. Round the first three ratios to two decimal places and the last three ratios to one decimal place. 

1. Current cash debt coverage ratio for fiscal years 2019 and 2020 

2. Cash debt coverage ratio for fiscal years 2019 and 2020 

3. Earnings per share for fiscal years 2019 and 2020 

4. Price earnings ratio for fiscal years 2019 and 2020 

5. Times interest earned ratio for fiscal years 2019 and 2020 

6. Free cash flow to operating cash flows for fiscal years 2019 and 2020 

b. Comment on whether there has been improvement or deterioration from 2019 to 2020 in the six ratios calculated. Take the perspective of Patinka's management. 

c. Would your answer in part (b) change if you were looking at the results from the perspective of an investor?

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2020 2019 2018 Total assets $735 $590 $514 Current liabilities 85 80 82 Total liabilities 240 165 170 Total shareholders' equity 495 425 399 Income before taxes 90 62 57 Interest expense 10 Net cash provided by operating activities 119 102 96 Net income 72 50 46 Capital expenditures for the year Number of common shares outstanding 30 20 15 70 70 70 Taken from stock market at Dec. 31 Market price per share (not in $000) $16.50 $12.41 $11.80