Financial Statements. As you can see, someone has spilled ink over some of the entries in the balance sheet and income statement of Transylvania Railroad. Can you use the following information to work out the missing entries:

Transcribed Image Text:

Long-term debt ratio Times interest earned Current ratio Quick ratio .4 8.0 1.4 1.0 Cash ratio Return on assets Return on equity .2 18% 41% Inventory turnover 5.0 Average collection period 71.2 days Net sales INCOME STATEMENT (figures in millions of dollars) Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Tax Net income 10 20