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5. The commonsize balance sheet and income statement [in percent) for Lyon Publications as of December 31, 15 are given below. Lyon's level of cash

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5. The commonsize balance sheet and income statement [in percent) for Lyon Publications as of December 31, 15 are given below. Lyon's level of cash on December 31, 2015 was 20,000 and interest paid during 15 was 90,000. Balance sheet Income statement Cash 5 Accounts payable 8 Sales 100 Marketable securities 3 Notes payable 5 Cost of goods sold 65 Accounts receivables 9 Wages payable 2 Gross prot 35 Inventory 12 Current liabilities 15 Operating expenses 21 Current assets 29 Long term debt 30 Net operating income 14 Net xed assets ?'1 Common stock 30 Interest expenses :5 Retained earnings 25 Prot before tax 8 Total assets 100 Total liabilities S: equity 100 Taxes 4 Net income 4 a} Determine Lyon's balance sheet and income statement {in dollars} as of December 31, 2015. h} Calculate the following ratios for Lyon as of December 31, 2015. 1} Current ratio 5] Average collection period 9*} Net prot margin 2] Quick ratio :5] Inventory turnover 10} Book return on assets 3} Debtequity ratio 3"] Fixedasset turnover 11} Book return on equity 4] Times interest earned 8] Operang prot margin

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