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 i. Debt ratio j. Fixed asset turnover k. Return on equity Balance Sheet ASSETS Cash Accounts receivable Inventory Prepaid expenses Totall current assets Gross plant and equipment Accumulated depreciation Total assets LIABILITIES AND OWNERS' EQUITY Accounts payable Accrued liabilites Totall current liabilities Long-term debt Common stock Retained earnings otal liabilities and equity $ 96,000 35,000 49,000 19,000 $ 199,000 396,000 (70,000) $ 525,000 $ 94,000 63,000 $ 157,000 129,000 209,000 30,000 $525,000 Income Statement Sales Cost of goods sold Gross profit $215,000 (88,000) $ 127,000 (30,000) (24.000) $ 73,000 (10,000) $ 63,000 (23,940) $39,060 Selling,general, and administrative expenses Deprediation expenses Operating income nterest expense Eamings before taxes Taxes Eamings available to common shareholders 12% of sales are cash sales