Comparative financial statement data of Forged Hardware Ltd. appears below: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Required - Income Statement Forged Hardware Ltd. Income Statement For the Years Ended December 31, 2020 and 2019 2020 2019 Net Sales Revenue $ 352,350 $ 311,250 201,750 156,000 Cost of Goods Sold Gross Margin 150.600 65.600 155,250 71,600 Operating Expenses Income From Operations Interest Expense Income Before Income Tax 85.000 26.850 83.650 20.750 Income Tax Expense 58.150 19.900 62.900 23.500 Net Income S 38.250 $ 39.400 Print Done Forged Hardware Ltd. Balance Sheet December 31, 2020 and 2019 2020 2019 2018* Current assets Cash $ 21,100 $ 26.000 Current receivables, net 116.240 Inventories 150.500 7.250 80.500 $ 62.900 138.250 86.750 10.250 Prepaid expenses Total current assets Property, plant, and equipment, net 295 090 154,250 255,000 145 500 Total assets Total current liabilities S 449,340 $ 400.500 355.000 S 142,250 $ 141 500 Print Done cial Statement Analysis 2 of 2 (2 complete) Balance Sheet 116,240 Current receivables, net 80,500 $ 62,900 138,250 86,750 10.250 150,500 7.250 Inventories Prepaid expenses Total current assets 295,090 154,250 255,000 145,500 Property, plant, and equipment, net $ 449 340 $ 400.500 Total assets 355 000 Total current liabilities S 142,250 $ 150 000 141,500 122.500 Long-term liabilities Total liabilities Preferred shares $1.60 292 250 30.000 77000 50 090 Common shares 264.000 30.000 61.750 44.750 400 500 62.000 Retained earnings 18.250 Total Liabilities and shareholders' equity $ 449:340 5 Done Clear Air 9 Do Homework - Go... peale Required 1. Compute the following ratios for 2020 and 2019: a. Current ratio b. Inventory turnover c. Accounts receivable turnover d. Debt/equity ratio e. Times-interest-earned ratio f. Return on assets g. Return on common shareholders' equity h. Earnings per common share i. Price-earnings ratio j. Book value per common share at year-end 2. Decide (a) whether Forged Hardware Ltd.'s ability to pay its debts and to sell inventory improved or deteriorated during 2020 and (b) whether the investment attractiveness of its common shares appears to have increased on decreased re cha we Print Done 0 Additional Financial Information for 2 cur al cur . Market price of Forged's common shares: $20.00 at December 31, 2020, and $32.00 at December 31, 2019. Weighted average number of common shares outstanding: 15,050 during 2020 and 12,800 during 2019. There are 2.000 preferred shares outstanding at December 31, 2020, and 2019. Preferred dividends were declared . All sales are on credit d 2011 each year moved Print Done the inventory turnover ratio as saldu