Please solve the three questions below with the information given.

Questions 1-3:Use the following income statement and balance sheet to answer the following questions.

Income Statement
Sales	130,000
Cost of Goods Sold	26,000
Profit Margin	104,000
Salaries and Wages	15,000
Rent Expense	5,000
Licensing Expenses	20,000
Advertising Expense	4,000
Total Expenses	44,000
Net Income	60,000

Balance Sheet
Assets
Cash	10,000
Inventory	15,000
Property, Plant, and Equipment	250,000
Accounts Receivable	5,000
Total Assets	280,000
Liabilities
Accounts Payable	20,000
Notes Payable	40,000
Total Liabilities	60,000
Owners Equity
Common Stock	120,000
Retained Earnings	100,000
Total Owners Equity	220,000

Question 1:Calculate the companys current ratio and quick ratio.

Question 2:Calculate the companys return on assets and return on equity.

Question 3:Calculate the companys debt ratio and debt to equity ratio.