Gleason Corporation Has Gathered the Following Data for the Current

Gleason Corporation has gathered the following data for the current year:
$$\begin{array} { l l } \text { Net Income } & \$ 40,000 \\\text { Interet Expense } & 5,000 \\\text { Income Tax Expense } & 12,500 \\\text { I’referred Dividends } & 3,600\end{array}$$ $\begin{array}{lll}&\text {Beginning}& \text {End of }\\&\text {of Year}& \text {Year}\\\text { Current assets } & \$ 68,000 & \$ 81,000 \\\text { Current liabilities } & 41,000 & 39,000 \\\text { Property, plant, and equipment } & 340,000 & 365,000 \\\text { Long-term liabilities } & 100,000 & 90,000 \\\text { Common shareholders' equity } & 217,000 & 267,000 \\\text { Preferred shareholders' equity } & 50,000 & 50,000\end{array}$
a_Calculate the current ratio at year end.
b_Calculate return on assets.
c_Calculate return on equity.
d_Comment on how these measures are used.