3. Baker Corporation provided the following Statements for 2014-15 Balance Sheet Assets 2015 $ 2014 $...

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3. Baker Corporation provided the following Statements for 2014-15 Balance Sheet Assets 2015 $ 2014 $ Cash 40,000 70,000 Accounts Receivable 320,000 350,000 Inventory 460,000 320,000 Total Current Asset 820,000 740,000 Gross Fixed Assets 560,000 520,000 Accumulated Depreciation 180,000 150,000 Net Fixed Asset 380,000 370,000 Total Asset 1,200,000 1,110,000 Liabilities & Stockholders' Equity Current Liabilities Accounts Payable 390,000 320,000 Notes Payable 110,000 90,000 Accrued Expense 20,000 20,000 Total Current Liabilities Long Term Debt Total Liabilities 520,000 430,000 320,000 350,000 840,000 780,000 Stockholders' Equity Common Stock at par Share Premium Reserve 100,000 100,000 150,000 150,000 Retained Earnings Total Liabilities & Stockholders' Equity Income Statement 110,000 80,000 1,200,000 1,110,000 2015 $ Sales Cogs Gross Profit Operating Expenses Operating Income (EBIT) 2,200,000 1,420,000 780,000 600,000 180,000 29,000 Interest Earnings before Tax (EBT) Tax (30%) Earnings after Tax (Net Income) Additional Information: 151,000 45,000 106,000 1. Purchased equipments paying $40,000 cash. 2. Annual depreciation expense was $30,000. 3. Paid cash dividend of $76,000. 4. No sale of fixed asset. Required A) Prepare a Cash Flow Statement for the year 2015. (12) B) Calculate the following Ratios for the year 2015 and also indicate the significance of each ratio - (18) Current Ratio, Quick Ratio, Accounts Receivable Turnover, Profit Margin, Asset Turnover, ROA, Return on Common Stockholders' Equity, Debt to Asset, Times Interest Earned ratio. 3. Baker Corporation provided the following Statements for 2014-15 Balance Sheet Assets 2015 $ 2014 $ Cash 40,000 70,000 Accounts Receivable 320,000 350,000 Inventory 460,000 320,000 Total Current Asset 820,000 740,000 Gross Fixed Assets 560,000 520,000 Accumulated Depreciation 180,000 150,000 Net Fixed Asset 380,000 370,000 Total Asset 1,200,000 1,110,000 Liabilities & Stockholders' Equity Current Liabilities Accounts Payable 390,000 320,000 Notes Payable 110,000 90,000 Accrued Expense 20,000 20,000 Total Current Liabilities Long Term Debt Total Liabilities 520,000 430,000 320,000 350,000 840,000 780,000 Stockholders' Equity Common Stock at par Share Premium Reserve 100,000 100,000 150,000 150,000 Retained Earnings Total Liabilities & Stockholders' Equity Income Statement 110,000 80,000 1,200,000 1,110,000 2015 $ Sales Cogs Gross Profit Operating Expenses Operating Income (EBIT) 2,200,000 1,420,000 780,000 600,000 180,000 29,000 Interest Earnings before Tax (EBT) Tax (30%) Earnings after Tax (Net Income) Additional Information: 151,000 45,000 106,000 1. Purchased equipments paying $40,000 cash. 2. Annual depreciation expense was $30,000. 3. Paid cash dividend of $76,000. 4. No sale of fixed asset. Required A) Prepare a Cash Flow Statement for the year 2015. (12) B) Calculate the following Ratios for the year 2015 and also indicate the significance of each ratio - (18) Current Ratio, Quick Ratio, Accounts Receivable Turnover, Profit Margin, Asset Turnover, ROA, Return on Common Stockholders' Equity, Debt to Asset, Times Interest Earned ratio.