15 From the following balance sheet and income statement calculate the following for the .current year liquidity ratio. 2marks Activity ratio. 3marks profitability ratios. 3marks Equity ratios. 2marks :Other information The company has a net purchase of 90,000 (O ) (ibi 10) ) BARRY'S SUPERSTORE Comparative Year-End Income Statements Prior Year Current Year Net Sales $100.000 $120,000 Cost of Goods Sold 50.000 60,000 Gross Profit 50,000 60,000 Rent Expense 5,000 5.500 Depreciation Expense 2.500 3.600 Salaries Expense 3.000 5.400 Utility Expense 1.500 2.500 Operating Income 38.000 43,000 Interest Expense 3,000 2.000 Income Tax Expense 5,000 6,000 Net Income 30,000 35.000 BARRY'S SUPERSTORE Comparative Year-End Balance Sheets Prior Year Current Year Assets: Cash $90,000 $110,000 Accounts Receivable 20,000 30,000 Inventory 35,000 40,000 Short-Term Investments 15,000 20.000 Total Current Asstes 160,000 200,000 Equipment 40,000 50,000 Total Assets $200,000 $250,000 Liabilities: Accounts Payable $ 60,000 $ 75,000 Unearned Revenue 10,000 25.000 Total Current Liabilities 70,000 100,000 Notes Payable 40,000 50,000 Total Liabilities 110.000 150,000 Stockholder Equity Common Stock 75.000 80,000 Ending Retained Earnings 15,000 20,000 Total Stockholder Equity 90,000 100,000 Total Liabilities and Stockholder Equity $200,000 $250.000