Compute the ratios using whatever you need from this balance sheet given. To be honest i dont even know what to look for to compute these so please help.

Masters Company Income Statement For the Year Ended, December 31, 2019 Sales Revenue $2,291,000 Cost of Goods Sold $1,655,000 Gross Profit $636,000 Operating Expenses: Selling Expense $196,000 General and Admin Expense $131,000 Depreciation Expense $90.000 Total Operating Expenses S417.000 Net Operating Income (EBIT) $219,000 Interest Expense $49,000 Earnings Before Taxes $170,000 Taxes (@40%) $68.000 Net Income $102,000 Masters Company Balance Sheet For the Years Ended, December 31, 2018 and 2019 Assets 2018 Cash 107,000 Accounts Receivable 270,000 Inventory 330,000 Total Current Assets 707,000 Gross Plant and Equipment 1,495,000 Accumulated Depreciation (460.000) Net Plant and Equipment 1.035.000 Total Assets $1,742,000 2019 140,000 294,000 327.000 761,000 1,668,000 (550,000) 1,118,000 $1,879,000 Liabilities and Equity Accounts Payable Accruals Notes Payable Total Current Liabilities Long-Term Debt Total Liabilities Common Stock - Par Value Paid-In-Capital In Excess of Par Retained Eamings Total Liabilities and Equity $197,000 S53,000 $205,000 $455,000 $560,000 $1,015,000 $30,000 $350,000 $347,000 $1,742,000 $213,000 $50,000 S223.000 $486,000 $623,000 $1,109,000 $30,000 $350,000 $390,000 $1,879,000 From the content section (Things to do in Chapter 4): Compute the following ratios: Current ratio, quick ratio, inventory turnover, average collection period, debt ratio, debt-to-equity ratio, equity multiplier, times interest earned, return on equity, operating return on assets. Post your answers to the ratio computations under the Discussion Thread, My Answers to Masters Inc ratio assignment