(Computing ratios) Use the information from the balance sheet and income statement in the popup window, to calculate the following ratios: a. Current ratio b. Acid-test ratio c. Times interest earned d. Inventory turnover e. Total asset turnover f. Operating profit margin g. Days in receivables h. Operating return on assets 1. Debt ratio j. Return on equity k. Fixed asset turnover a. The current tatio is (Round to two decimal places) Balance Sheet ASSETS Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets \begin{tabular}{rr} $96,000 \\ 30,000 \\ 48,000 \\ & 18,000 \\ \hline$ & 192,000 \\ & 399,000 \\ & (61,000) \\ \hline$ & 530,000 \\ \hline \hline \end{tabular} LIABILITIES AND OWNERS' EQUITY Accounts payable Accrued liabilities Total current liabilities Lona-term debt \begin{tabular}{rr} $89,000 \\ \hline & 63,000 \\ \hline$ & 152,000 \\ & 128,000 \end{tabular} \begin{tabular}{lr} Long-term debt & 128,000 \\ Common stock & 208,000 \\ Retained earnings & 42,000 \\ \hline Total liabilities and equity & $530,000 \\ \hline \end{tabular} Income Statement Sales* \begin{tabular}{lr} $215,000(90,000) \\ \hline$ & 125,000 \end{tabular} Cost of goods sold Gross profit (25,000) Selling, general, and administrative expenses Depreciation expenses Operating profits $71,000(29,000) Interest expense Earnings before taxes Taxes $63,000(8,000) (13,230) Total liabilities and equity Income Statement Sales* Cost of goods sold Gross profit $215,000 Selling, general, and administrative expenses (90,000)$125,000 Depreciation expenses Operating profits Interest expense Eamings before taxes Taxes \begin{tabular}{rr} & (29,000) \\ \hline$71,000 \end{tabular} Net income $63,000(8,000) * 12% of sales are cash sales