18% AT&T LTE 2:06 PM To Do Assignment Details Business Finance-CRN#12273-202110 Here is your first assignment. You are given a balance sheet and an income statement. You are asked to find the financial ratios. You will be graded in plugging the numbers for each ratio, finding the answer and writing the unit of measurement for each ratio,; time, $, or no unit. There are 17 ratios and each ratio is worth 0.5 points (0.5 X 17 = 8.5 points). Students will lose one point for each day late. For example if you submit the assignment one day late you miss one point, 2 days late you miss two points and so on. If you are 7 days late, there is no point of doing the assignment. Assignment 1 Due 8/30/2020 Given the following income statements and Balance sheet, find the following financial ratios Income Statement Sales revenue 30,000,000 Less cost of goods 21,000,000 Gross profit 9.000.000 Submit Assignment Dashboard Calendar Notifications Inbox 18% . AT&T LTE 2:06 PM To Do Assignment Details Business Finance-CRN#12273-202110 Gross profit 9,000,000 6,000,000 3,000,000 Less operating expenses Operating profit (EBIT) Less interest expenses Net profit before taxes 1,000,000 2,000,000 Less taxes (40%) 800,000 1,200,000 100,000 Net profit after tax Less preferred stock dividends Earnings available for common Stock holders 1,100,000 Balance Sheet Assets Liabilities Cash 1,000,000 payable Account 8,000,000 Submit Assignment Dashboard Calendar Notifications Inbox 18% AT&T LTE 2:06 PM To Do Assignment Details Business Finance-CRN#12273-202110 3,000,000 Notes payable 8,000,000 Account receivable 12,000,000 Accruals 500,000 Inventory 7,500,000 Liab Total Current 16,500,000 Total current assets 23,500,000 debt long term 20,000,000 Net fixed assets 26,,500,000 Liab. Total 36,500,000 50,000,000 Total assets Total equity 13,500,000 Total Liab. And equity 50,000,000 Purchases are .80 of cost of goods Number of shares are 2,500,000 shares Submit Assignment Dashboard Calendar Notifications Inbox ...AT&T LTE 9:26 AM @ 100i 45%