Using the information provided, calculate 4 ratios that would be relevant in determining whether or not Carrison Furniture Inc. can pay both its current and long-term debt. Comment on whether the company's position has improved during 2020.

	2020	2019
Cash	$30,000	$51,000
Short-term investments	35,000	0
Net receivables	118,000	128,000
Inventory	242,000	272,000
Prepaid expenses	18,000	11,000
Total assets	530,000	490,000
Total current liabilities	177,000	262,000
Long-term debt	38,000	56,000
Income from operations	195,000	162,000
Interest expense	41,000	45,000

Required:

1. Compute the current ratio, quick ratio, debt ratio and times interest earned for 2020 and 2019. (Round the ratios to two decimal places.)

2. Comment on whether the company's position has improved during 2020.