Problem $3-20($Algo$)$ Calculate profitability and liquidity measures LO $3-3,3-4,3-6$

Presented here are the comparative balance sheets of Hames Incorporated at December $31,2023$ and $2022.$ Sales for the year ended December $31,2023,$ totaled $$590,000.$

HAMES INCORPORATED

Balance Sheets

December $31,2023$ and $2022$

Assets

Cash

Accounts receivable

Merchandise inventory

Total current assets

Land

Plant and equipment

Less: Accumulated depreciation

Total assets

Liabilities

Short$-$term debt

Accounts payable

other accrued liabilities

Total current liabilities

Long$-$term debt

Total liabilities

Stockholders' Equity

Common stock, no par, $100,000$ shares authorized $40,000$ and $25,000$ shares issued, respectively

Retained earnings:

Begining balance

Net income for the year

Dividends for the year

Ending balance

Total stockholders' equity

Total liabilities and stockholders' equity

$\backslash$table$[[5,\backslash$table$[[21,000],[78,000],[103,000]],,\backslash$table$[[20,000],[72,000],[99,000]]],[$$$,\backslash$table$[[202,000],[50,000],[125,000],[(65,000)$