200 in (Plus) Use following information to calculate Ratios: Salinas Limited Balance Sheet At December 31, 2012 Liabilities and Equity $72 Accounts Payable 88 Bank Loan, non-current 100 40 Preferred Shares Common Shares 320 Retained Earnings S520 Total Liabilities and Equity Assets Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Property. Plant, and Equipment, at carrying amount Total Assets $60 150 50 100 5620 $240 141 96 Salinas Limited Income Statement For the Year Ended December 31, 2017 Sales Cost of Goods Sold Gross Profit Operating Expenses Salaries $ 44 Depreciation 6 Income from Operations Less: Interest Income before Income Taxes Rece: Income Takes Net Income 50 46 8 38 18 $ 20 Assume that 80% of sales are on credit, that the average of all balance sheet items is equal to the year- figure, that all preferred share dividends have been paid and the total annual preferred dividend entitle 5 44 6 Upernig Expenses Salaries Depreciation Income from Operations Less Interest Income before Income Taxes Less Income Taxes Net Income 50 46 8 38 18 $ 20 Assume that 80% of sales are on credit, that the average of all balance sheet items is equal to the year-end figure, that all preferred share dividends have been paid and the total annual preferred dividend entitlement $6, and that the number of common shares outstanding is 10. Required: Calculate the following ratios and percentages a. Current ratios b. Return on total assets c. Sales to total assets d. Acid-test ratios e. Times interest earned f. Earnings per common share g. Accounts receivable collection period h. Return on equity