Question: I need the answer as soon as possible 10 Marks Question 2: Problem Solving Azim and Sons company has the following comparative balance sheet data:

I need the answer as soon as possible I need the answer as soon as possible 10 Marks Question 2:

10 Marks Question 2: Problem Solving Azim and Sons company has the following comparative balance sheet data: Azim and Sons Company Balance Sheets December 31 2021 2020 Cash 20,000 40,000 Accounts receivable (net) 70,000 50,000 Inventory 60,000 65,000 Plant assets (Net) 2,00,000 1,65,000 3,50,000 3,20,000 Accounts payable 53,000 62,000 Mortgage payable (6%) 102,000 98,000 Common stock, $10 per 1,45,000 1,20,000 Retained earnings 50,000 40,000 3,50,000 3,20,000 Additional information for 2021: 1. Net income was $45,000 2. Sales on account were $450,000. Sales returns and allowances were 350,000 3. Cost of goods sold was $218,000. Requirements: Compute the following ratios at December 31, 2021 (a) Current Ratio (b) Inventory Turnover Ratio (c) Debt to Equity Ratio (d) Profit Margin (e) Return on Assets

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