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PNG Company Comparative Balance SheetsUse the following comparative balance sheets, income statement, and additional information to answer questions (1) through (5).Additional Information for PNG Co. in 20X1:1. All sales were on account.2. Earnings per share were $2.00.3. The closing stock price on 12/31/X1 was $15.40.4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1.
1. What was PNG Company’s current ratiofor the year 20X1?3.322. What was PNG Company’s debt to equity ratiofor the year 20X1?0.683. What was PNG Company’s inventory turnoverfor the year 20X1?27.62 times4. What was PNG Company’s return on equityfor the year 20X1?42.44%5. What was PNG Company’s profit marginfor the year 20X1?5.76%