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(Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Kronlokken Company from the scrambled list of items shown in the popup window. D a. What is the firm's not working capital and debt ratio? b. Complete a common-sized Income statement and a common-sized balance sheet. c. Interpret your findings Complete the part of the balance sheet below: (Round to the nearest dollar. NOTE: Input the Accumulated Depreciation account as a negative value.) Kronlokken Company Balance Sheet ASSETS Cash 225,087 Accounts receivables 153,174 Inventories 99,561 Prepaid expenses 13,860 491.682 Total nurrent nee (Working with an income statement and balance sheet) Prepare a balance sheet and incom a. What is the firm's net working capital and debt ratio? b. Complete a common-sized income statement and a common-sized balance sheet. c. Interpret your findings. Kronlokken Company Balance Sheet ASSETS Cash Accounts receivables 225,087 153,174 99,561 Inventories Prepaid expenses 13,860 491,682 Total current assets Gross buildings and equipment Accumulated depreciation 896,881 (266,402) Net fixed assets 630,479 Total assets 1,122,161 Complete the part of the balance sheet below: (Round to the nearest dollar.) Kronlokken Company Balance Sheet (Cont'd) Kronlokken Company Balance Sheet (Cont'd) LIABILITIES AND EQUITY Liabilities $ 102,530 Accounts payable Accrued operating expenses Taxes payable 7,845 56,692 Notes payable 74,600 Total current liabilities $ 241,667 Long-term debt 331,999 Total liabilities $ 573,666 Equity Common stock $ 287,126 Retained earnings 261,369 Total equity 548,495 Balance Sheet (Cont'd) LIABILITIES AND EQUITY $ 102,530 Liabilities Accounts payable Accrued operating expenses Taxes payable Notes payable 7,845 56,692 74,600 Total current liabilities 241,667 Long-term debt 331,999 573,666 Total liabilities Equity Common stock 287,126 261,369 Retained earnings Total equity 548,495 Total liabilities and equity $ 1,122,161 Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Complete the income statement below: (Round to the nearest dollar. NOTE: You may input expense accounts as negative values.) Kronlokken Company Income Statement Sales $ 575,877 295,537 280,340 $ 68508 Cost of goods sold Gross profits General and admin. expenses Depreciation expense Total operating expenses Operating income (EBIT) 77633 146,141 $ Earnings before taxes $ Net income (Click on the following icon in order to copy its contents into a spreadsheet. Depreciation expense Cash Long-term debt Sales Accounts payable General and administrative expenses Buildings and equipment Notes payable Accounts receivable Interest expense Accrued operating expenses Common stock Cost of goods sold Inventory Taxes Accumulated depreciation Prepaid expenses Taxes payable Retained earnings $68,508 225,087 331,999 575,877 102,530 77,633 896,881 74,600 153, 174 4,873 7,845 287,126 295,537 99,561 51,730 - 266,402 13,860 56,692 261,369