P18-5B Summarized and adapted versions of the financial statements of The Coca-Cola INCOME STATEMENT Year Ended December 31, 19X9 Net sales Cost of goods sold. Gross profit. Selling and general expenses Other expense (income). Income before income tax... Income tax expense (36.34%). Net income $19,805

(a)

(b) 9.814 163 (C)

(d)

(e) Balance Sheet December 31, 19X9 and 19X8 19X9 19X8 Assets Current: Cash Short-term investments. Receivables, net. Inventories... Prepaid expenses Total current assets. $

(f) $ 1.648 201 1,798 159 1.666 1,076 890 (g) 2.017 (h) 6.380 Long-term assets. 15,143 12,765 Total assets.... $ (i) $19.145 Liabilities. Current liabilities. $ 9,856 Long-term liabilities. Total liabilities... $ 8.640 2,102 (k) 10,742 Stockholders' Equity Common stockholders' equity Total liabilities and equity 8.403 (m) $19.145 Ratio data:

a. Current ratio at December 31. 19X9 is 0.6575.

b. Inventory turnover for 19X9 was 6.113.

c. Debt ratio at December 31, 19X9 is 0.56005.

d. Decrease in cash during 19X9, $37. Required Complete the financial statements. Start with the income statement. Then complete the balance sheet.