1. Please use the financial statements provided to calculate the following ratios: MARNI COMPANY Balance Sheet As of December 31, 2014 Assets Cash Accounts Receivable Inventory Current Assets Net Fixed Assets Liabilities $5,000 Accounts Payable 32,000 Notes Payable 30,000 Accrued Expenses $67,000 Current Liabilities 73,000 Long-term Debt Stockholders' Equity $140,000 Total Liabilities and Stockholders' Equity $21,000 20,000 5,000 46,000 30,000 64,000 $140,000 Total Assets MARNI COMPANY Income Statement For the Year Ended December 31, 2014 Sales Less: Cost of Goods Sold Gross Profit Selling and Administrative Expense Depreciation Expense EBIT Interest Expense Earnings before Taxes Taxes (@30%) Net Income $200,000 95.000 105.000 35,000 8,000 62.000 16,000 46,000 13,800 $32.200 Profit margin Operating profit margin Return on assets Return on equity Asset turnover Inventory turnover Average days in inventory Receivables turnover Average collection period Net working capital to total assets ratio Current ratio Quick ratio Debt to asset ratio Long-term debt ratio Times interest earned ratio Cash coverage ratio