Assessment 10: Ratio Analysis Worksheet Problem 1 Solve the given problem based on the following scenario. Crouch Corp.'s balance sheet and income statement, including all credit sales, are given in the table below. As of December 31, 2016: Inventories were $15,660. Total assets were $85,410. . Common stock was $31,950. Retained earnings were $11,430. Crouch Corp. Income Statement (December 31, 2017) Sales $ 283,950 Cost of goods sold 212,490 Gross profit 71,460 Operating expenses 44,280 Interest expenses 1,980 Income before taxes 25,200 Taxes (at 20%) 5,040 Net income $ 20,160 Crouch Corp. Balance Sheet (December 31, 2017) Assets Amount ($) Liability and Equity Amount ($) Cash 5,490 Accounts payable 10,350 Short-term investment 6,210 Accrued wages payable 2,970 Accounts receivable 10,890 Income taxes payable 2,340 Notes receivable 2,700 Notes payable (long-term) 27,000 Inventory 12, 150 Common stock 31,500 Prepaid expenses 1,800 Retained earnings 31,590 Plant 66,510 Total assets 105,750 Total liability and equity 105,750Compute the following and show your work. Ratio Calculation Current ratio Days' sales uncollected Days' sales in inventory Times interest earned Total asset turnover Return on common stockholders' equity Acid-test ratio Inventory turnover Debt-to-equity ratio Profit margin ratio Return on total assets