Mann Corporation decided to issue common stock and used the $120,000 raised to retire all of its shares.
bonds outstanding as of January 1, 2020. The below information is available to the Company for 2019
and 2020.
Net Income $120,000  $100,000
Average Stockholders' Equity 1,000,000  800,000
Current Assets $750,000  $650,000
Total Assets 1,200,000.00
Current Liabilities 100,000  100,000
Total Liabilities 360,000  480,000
Required:
(a) Find the current ratio, debt-to-asset ratio, and earnings per share for both years.
(b) Explain how it is possible that net income has increased, but utility before the action has decreased.
(c) Carry out an analysis and explain what your analysis of reasons has discovered for the company between
the years 2020 and 2019.