1. Use ratios to analyze a company's liquidity and solvency. Calculate Select Ratios - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Paste Clipboard G Calibri B I U - Font 11 A % M Alignment Number Conditional Format as Cell Cells Editing A1 Formatting Table Styles- Styles fx Condensed financial statements for Games Galore are summarized below: A 1 Condensed financial statements for Games Galore are summarized below: B C 2 3 Balance Sheet 4 Cash 2016 2015 $ 185,000 $ 143,000 5 Accounts Receivable, Net 6 Inventory 80,000 59,000 104,000 134,000 7 Prepaid Insurance 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 12 Current Liabilities 13 Long-term Liabilities 14 Total Liabilities 15 Contributed Capital 16 Retained Earnings 17 Total Stockholders' Equity 18 Total Liabilities and Stockholders' Equity 19 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses $ 85,300 $ 96,800 284,000 224,000 369,300 320,800 299,000 299,000 227,100 129,080 526,100 428,080 $ 895,400 $ 748,880 $ 3,031,000 1,949,000 1,082,000 891.400 READY Attempt(s) Sheet1 D + 100% Hint Show Me