please use excel

PROBLEM 1: Balance Sheet (December 31, 2020) Cash Accounts receivable Inventory Current assets $197,000 265,000 563,000 $1,025,000 Accounts payable Notes payable Current liabilities Long-term debt Total liabilities $288,000 194,000 $482,000 1,450,000 $1,932,000 Tangible net fixed assets $6,163,000 Common stock Accumulated retained earnings Total Common Equity Total liabilities & owners' equity 1,000,000 4,256,000 5,256,000 $7.188.000 Total assets $7.188.000 Michigan Corporation Income Statement (Year 2020) Sales Costs Depreciation EBIT Interest Taxable income Taxes Net income $7,950,000 3,450,000 760,000 $3,740,000 410,000 $3,330,000 1,165,500 $2.164.500 Comment A) Given the Balance Sheet and Income statements for Michigan Corporation; calculate the ratios listed below B) Benchmark all the ratios using Industry Average provided for each ratio. Ratio Industry Average Firm Value Current Ratio 2.0 Quick Ratio 1.00 Total Debt Ratio 35% Times Interest Earned Ratio 6.5 Inventory Turnover Ratio 8 Receivable Turnover ratio 10 Total Asset Turnover Ratio 2.0 Profit Margin on Sales 15% Return on Assets (ROA) Return on Common Equity (ROE) 30% 20%