2016 Income Statements Balance Sheet For the Year Ended December 31, 2016 As of December 31, 2016 2016 Sales Ratio Assets Cost of Goods Ratio Cash $41,000 Gross Profit Formula Accounts Receivable Ratio Depreciation 63,000 Inventory 386,250 Selling & Admin Expense 654,250 Total Current Assets Formula Lease Expense 48,750 Gross Fixed Assets 2,010,000 Earnings Before Interest & Taxes Formula Accumulated Depreciation Formula Interest Expense representar Ratio Net Plant & Equipment Ratio Earnings Before Taxes Formula Total Assets 2,325,500 Taxes Formula Liabilities & Owner's Equity Net Income Ratio Accounts Payable 378,750 Short-term Notes Payable Formula Note: Tax Rate 40.00% Total Current Liabilities Ratio Long-term Debt Ratio Common Equity Ratio Total Liab. & Owner's Equity Formula Value 1.832716 Ratio Current Ratio Inventory Turnover A/R Turnover Fixed Asset Turnover LTD to Equity Times Interest Earned Net Profit Margin Return on Total Assets Return on Equity 4.414239 8.333333 1.657982 0.843090 1.833333 0.016000 0.018061 0.040307 Uses Cost of Goods Sold in numerator. Complete the financial statements by using formulas that refer to existing data to fill in the remaining cells