Comparative financial statements for The Cable Company Ltd. are shown below.

Additional information:
1. All sales were on account.
2. The allowance for doubtful accounts was $5,400 in 2014 and $5,100 in 2013.
3. On July 1, 2014, 4,000 shares were reacquired for $10 per share and cancelled.
4. In 2014, $5,000 of dividends were paid to the common shareholders.
5. Cash provided by operating activities was $316,200.
6. Cash used by investing activities was $161,300.
Instructions
Calculate all possible liquidity, solvency, and profitability ratios for 2014.
Taking It Further
Based on the ratios you have calculated for 2014, can you determine whether Th e Cable Company's liquidity, solvency, and profitability are strong or weak? If not, what additional information would you require?

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THE CABLE COMPANY LTD Income Statement Year Ended December 31 2014 2013 1,948,500 $1,700,500 Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit 1,025,500 923,000 516,000 407,000 28,000 379,000 113,700 $265,300 946,000 754,500 449,000 305,500 19,000 286,500 86,000 200,500 THE CABLE COMPANY LTD. Balance Sheet December 31 Assets 2014 2013 Current assets Cash Accounts receivable Inventory 68,100 107,800 143,000 318,900 54,000 625,300 $998,200 $64,200 102,800 115,500 282,500 50,000 520,300 $852,800 Total current assets Equity investments Property, plant, and equipment Total assets Liabilities and Shareholde Current liabilities L11 Accounts payable Income tax payable Current portion of mortgage payable $155,000 43,500 10,000 208,500 104,000 312,500 $125,400 42,000 20,000 187,400 200,000 387,400 Total current liabilities Mortgage payable Total liabilities Shareholders' equity Retained earnings Common shares (56,000 issued in 2014; 60,000 in 2013) 168,000 517,700 685,700 $998,200 180,000 285,400 465,400 $852,800 Total shareholders' equity Total liabilities and shareholders equity