17. Based on the financial statements provided below, please fill the missing numbers and calculate the requested financial ratios. Show all your work to get full credit. 2012 2011 2012 2011 Sales $ 285,000 $ 190,000 Assets Cost of Goods Sold $ 215,000 $ 143,000 Cash S 9,000 Gross Profit $ 70,000 $ 47,000 Accounts Receivable Operating Expenses Variable Expenses Fixed Expenses Depreciation Total Eamings Before Interest and Taxes Interest Expense Eamings Before Taxes Inventories Taxes Net Income Dividends $ $ 28,500 $ 19,000 Total Current Assets $ 21,000 $ 20,000 Land $ 10,000 $ 4,500 Buildings and Equipment $ $ 16,000 $ 12,500 $ 42,500 $ 29,000 S 62,500 $ 50,500 26,000 $ 20,000 100,000 $ 70,000 $ 59,500 $ 43,500 Accumulated Depreciation S 28,000 $ 10,500 $ 3,500 Total Fixed Assets S 62,000 S 6,100 $ 3,000 Total Assets $ 150,500 $ 112,500 S 4,400 $ 500 Liabilities and Owner's Equity S 1,540 $ 175 Accounts Payable $ $ 2,860 $ 325 Short-term Bank Notes $ 858 $ 98 Total Current Liabilities a. Cash and Equivalents of 2020 (2 points) Long-term Debt Common Stock Retained Earnings $ 22,298 S 10,500 47,000 $ 17,000 $ 69,298 $ 27,500 22,950 S 28,750 31,500 $ 31,500 S 24,750 Total Liabilities and Owners Equity S 112,500 d. What is the quick ratio for 2020? (2 points) b. Accumulated Depreciation of 2020 (2 points) I Retained Earnings of 2020 (4 points) Please find the figures for the following items on the Statement of Cash Flows: e. Change in Inventory of 2020 (2 points) Statement of Cash Flows of 2012 Operating Activities Change in Accounts Receivable $ (3,500) Change in Inventories Change in Accounts Payable $ 11,798 Depreciation Expenses Net Income S 2,860 Net cash in operating activities S 7,658 f. Change in Short-term Bank Notes of 2020 (2 points) Long-term Investing Activities Change in Land $ Change in Buildings and Equipment Net change in investing activities $ (6,000) $ (30,000) (36,000) g. Depreciation of 2020 (2 points) Financing Activities Change in Short-term Bank Notes Change in Long-term Debt Dividend Net cash in financing activities SSS S (5,800) $ (858) 23,342 Net change in Cash S (5,000) h. Based on the provided financials, the firm purchases more inventory at $ 2,000 in 2012. Assume no other financial activities taking place, what is the new quick ratio? (3 points)