Financial statement analysis The financial statements of Zach Industries for the year ended December 31, 2019, follow 6. Use the financial statements to complete the following table Assume the industry averages given in the table are applicable for both 2018 and 2019. b. Analyze Zach Industries' financial condition as it is related to (1) liquidity. (2) activity. (3) debt, (4) profitability, and (5) market. Summarize the company's overall financial condition - X Data table Data table a. The current ratio is (Round to two decimal places . (Click the icon here in order to copy the contents of the data table below into a spreadsheet Zach Industries Income Statement for the Year Ended December 31, 2019 Salas revenue $160.400 LASS Cost of goods sold 105 500 Gross profs S54.900 Less. Operating expenses Selling expense $16,400 General and administrative expenses 9.500 Lease expense 1,010 Depreciation expense 10.200 Total operating expense $37,110 Operating profits $17.790 Less. Interest expense 5.800 Net profits before taxes $11.990 LASS: Taxes 4.400 Net profits after taxes 57 590 (Click the icon here in order to copy the contents of the data table below into a spreadsheet) Ratio Industry average Actual 2018 Actual 2019 Current ratio 1.80 1.84 Quick ratio 0.70 0.78 Inventory turnover 2.49 2.53 Average collection period 36.5 days 35.5 days Debt ratio 648% 66.8% Times interest eamed ratio 4.1 43 Gross profit margin 38% 40% Net profit margin 4.156 4.2% Ratum on total assas 4.7% 479 Ratum on common equity 112% 97% Market book ratio 1.1 1.2 Based on a 365-day year and end-of-year figures. - Print Done (Click the icon here in order to copy the contents of the data table balow into a spreadsheet Zach Industries Balance Sheet December 31, 2019 Assets Cash 5520 Markatable securities 950 receivable 24.600 Inventories 45.400 Total current assets 571,470 Land 525 700 Buildings and equipment 90 300 Less. Accumulated depreciation 37.800 Not fired assets S76 200 Total assets ACOBS $119.670 (Click the Icon here in order to copy the contents of the data table below into a spreadsheet) Liabilities and Stockholders' Equity Accounts payable 21.600 Notes payable 46.900 Total current llabilities 568.500 Long-term debt $22.940 Common stock $31.100 Retained earnings $27.130 Total liabilities and stockholders' equity 5149.670 "The firm's 3,100 outstanding shares of common stock closed 2019 at a price of $24 per share