Financial ratios computed for Whittaker Inc. include the following: Current ratio Acid-test ratio Debt/equity ratio Inventory turnover Accounts receivable turnover Times interest earned Gross profit ratio Return on investment Earnings per share 1.6 to 1 1.3 to 1 2.0 to 1 2.5 times 5.8 times 4.80 times 40% 9.26% $8.71 B All sales during the year were made on account. Cash collections during the year exceeded sales by $17,000, and no uncollectible accounts were written off. The balance of the accounts receivable account was $45,000 on January 1, 2020. No common stock was issued during the year. Dividends declared and paid during the year were $8,628. The balance of the inventory account was $73,491 on January 1, 2020. Interest expense on the income statement relates to the 12% bonds payable; $10,000 of these bonds were issued on May 1, 2020; the remaining amount of bonds payable were outstanding throughout the year. All bonds were issued at face amount.