Looking back over the last few years, it is clear that Nicole Mackisey has accomplished a lot running her business, Nicole’s Getaway Spa (NGS). Nicole is curious about her company’s performance as she compares its financial statements.

2021 2020 2019
Balance Sheet
Cash $ 10,500 $ 8,000 $ 7,600
Accounts Receivable, Net 3,900 4,400 3,700
Inventory 2,150 3,950 2,550
Prepaid Expenses 1,510 1,810 960
Other Current Assets 490 540 390
Total Current Assets 18,550 18,700 15,200
Property and Equipment, Net 83,000 98,000 46,000
Total Assets $ 101,550 $ 116,700 $ 61,200
Current Liabilities $ 15,600 $ 15,600 $ 16,600
Long-Term Liabilities 41,650 56,650 20,650
Total Liabilities 57,250 72,250 37,250
Common Stock 34,500 39,500 20,400
Retained Earnings 9,800 4,950 3,550
Total Stockholders’ Equity 44,300 44,450 23,950
Total Liabilities and Stockholders’ Equity $ 101,550 $ 116,700 $ 61,200
Income Statement
Sales Revenue $ 89,500 $ 65,500 $ 53,500
Cost of Goods Sold 70,700 53,700 40,700
Gross Profit 18,800 11,800 12,800
Operating Expenses 4,950 2,950 7,950
Income from Operations 13,850 8,850 4,850
Interest Expense 1,570 3,670 1,370
Income before Income Tax Expense 12,280 5,180 3,480
Income Tax Expense 4,000 1,750 1,450
Net Income $ 8,280 $ 3,430 $ 2,030

Required:
1-a. Calculate the net profit margin, gross profit percentage, return on equity, and fixed asset turnover ratio for 2021 and 2020.
1-b. Was NGS more profitable in 2021 or 2020?
2. Calculate the current ratio for 2021 and 2020.
3-a. Calculate the debt-to-assets ratio and times interest earned ratio for 2021 and 2020.
3-b. Was NGS more solvent in 2021 or 2020?