(Financial statement analysis) Carson Electronics' management has long viewed BGT Electronics as an industry leader and uses this firm as a model firm for analyzing its own performance. The balance sheets and income statements for the two firms are found here: B a. Calculate the following ratios for both Carson and BGT: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity b. Analyze the differences you observe between the two firms. Comment on what you view as weaknesses in the performance of Carson as compared to BGT that Carson's management might focus on to improve its operations. Net sales (all credit) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes Income taxes (40%) Carson Electronics, Inc. Income Statement ($000) $48,000 (36,000) $12,000 (8,000) $4,000 (1,150) $2,850 (1,140) $1,710 BGT Electronics, Inc. Income Statement ($000) $70,000 (42,000) $28,000 (12,000) $ 16,000 (550) $15,450 (6,180) $9,270 Net income Cash Accounts receivable Carson Electronics, Inc. Balance Sheet ($000) $2,000 4,500 1,500 $8,000 16,000 BGT Electronics, Inc. Balance Sheet ($000) $1,500 6,000 2,500 $10,000 25,000 Inventories Current assets Net fixed assets Total assets $24,000 $35,000 Accounts payable $2,500 Accrued expenses 1,000 Short-term notes payable 3,500 Current liabilities $7,000 Long-term debt 8,000 Owners' equity 9,000 Total liabilities and owners' equity $24,000 Click on the icon in order to copy its contents into a spreadsheet.) $5,000 1,500 1,500 $8,000 4,000 23,000 $35,000