1. Use ratios to analyze a company's liquidity and solvency. Calculate Select Ratios - Excel Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri 11 ' % Paste Clipboard A1 BIU Alignment Number Conditional Format as Cell Cells Formatting Table Styles Editing Font Styles Condensed financial statements for Games Galore are summarized below: 31 Required: fx A B C 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 36 37 38 39 Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days' sales in inventory (rounded to the nearest day) 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 43 Debt to assets (rounded to two decimal places) 44 Times interest earned (rounded to one decimal place) 45 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). 4.5 to 1 times days times days to 1 times 48 Profit margin ratio (rounded to one decimal place) 49 Gross margin ratio (rounded to one decimal place) 50 51 percent percent x D Calculate Select Ratios - Excel 4 - Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri 11 - ' % Paste BIU 4 Alignment Number Conditional Format as Cell Formatting Table Styles Cells Editing Clipboard A1 Font Styles fx Condensed financial statements for Games Galore are summarized below: A B C 1 Condensed financial statements for Games Galore are summarized below: 2 3 Balance Sheet 4 Cash 5 Accounts Receivable, Net 6 Inventory 7 Prepaid Insurance 2016 2015 $ 185,000 $ 143,000 80,000 59,000 104,000 134,000 11,900 5,880 8 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 $ 748,880 11 14 12 Current Liabilities 13 Long-term Liabilities Total Liabilities 15 Contributed Capital 16 Retained Earnings $ 85,300 $ 96,800 284,000 224,000 369,300 320,800 299,000 299,000 227,100 129,080 17 Total Stockholders' Equity 526,100 428,080 18 Total Liabilities and Stockholders' Equity $ 895,400 $ 748,880 19 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses Sheet1 $ 3,031,000 1,949,000 1,082,000 891.400 D