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Compute each of the following ratios for 2013 and 2014 and indicate whether each ratio was getting "better" or "worse" from 2013 to 2014 and was "good" or "bad" compared to the Industry Avg in 2014 (round all numbers to 2 digits past the decimal place)

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Compute each of the following ratios for 2013 and 2014 and indicate whether each ratio was getting "better" or "worse" from 2013 to 2014 and was "good" or "bad" compared to the Industry Avg in 2014 (round all numbers to 2 digits past the decimal place) Type your answers in the table and submit this worksheet. Ratios 2013 Enter \"Better\" or \"Worse\" 2014 2014 Industry Avg 0.11 1.90 1.12 .26 .55 18.00 21.20 8.25 0.25 8.15 Profit Margin Current Ratio Quick Ratio Return on Assets Debt to Assets Receivables turnover Avg. collection period* Inventory Turnover** Return on Equity Times Interest Earned *Assume a 360 day year **Inventory Turnover can be computed 2 different ways. Use the formula listed in the text (the one the text indicates many credit reporting agencies generally use) Use the following information to answer the questions above: note: all sales are credit sales Income Statement info: Sales less Cost of Goods Sold: Gross Profit Operating Expenses Earnings before Interest & Taxes Interest exp earnings before Taxes Taxes Net Income $ $ 2013 1,050,000 325,000 725,000 575,000 150,000 25,000 125,000 50,000 75,000 $ $ 2014 1,128,750 346,125 782,625 609,500 173,125 29,000 144,125 57,650 86,475 BALANCE SHEET NEXT PAGE Balance Sheet info: 12/31/2013 12/31/2014 Enter "Good" or "Bad" compared to Industry Avg Cash Accounts Receivable 60,000 80,000 $ $ 66,000 83,200 Inventory Total Current Assets Fixed Assets (Net) $ $ 110,000 250,000 300,000 $ $ $ 119,900 269,100 318,000 Total Assets $ 550,000 $ 587,100 Current Liabilities Long Term Liabilities Total Liabilities $ $ $ 130,000 150,000 280,000 $ $ $ 136,500 170,000 306,500 Stockholder's Equity $ 270,000 $ 280,600 Total Liab & Equity: $ 550,000 $ 587,100