A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2021 Revenues Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Rent Expense Salary Expense Advertising Expense Repairs & Maint. Expense Supplies Expense Insurance Expense Depreciation Expense $ 451,350.00 $225,731.00 $225,619.00 $ $ 69 69 69 69 69 69 69 $ 31,200.00 $ 102,340.00 $ 4,785.00 15,105.00 $ 2,320.00 275.00 $ 10,975.16 Bad Debt Expense Telephone Expense Total Operating Expenses $ 975.70 $ 6,070.00 174,045.86 Income From Operations Before Interest and Inc 51,573.14 Interest Expense $ 10,655.18 $ 40,917.96 Net Income Before Tax Income Tax Expense Red dreimal planenl Net Income After Tax 10,229.49 $ 30,688.47 Assets Current Assets A Byte of Accounting Balance Sheet As of December 31, 2021 Cash Accounts Receivable Allowance for Doubtful Accounts Net Receivable Prepaid Insurance Prepaid Rent Office Supplies Inventory Total Current Assets $ 21,394.00 1,069.70 $ 394,356.30 20,324.30 6,325.00 2,600.00 830.00 697.00 $ 425,132.60 Long-Term Assets Office Equipment Accum. Depr.-Office Equipment Net Office Equipment Computer Equipment Accum. Depr.-Computer Equipment Net Computer Equipment $ 73,500.00 13,275.16 $ 21,500.00 8,600.00 $ 60,224.84 12,900.00 Total Long-Term Assets Total Assets Liabilities Current Liabilities Accounts Payable Advanced Payment Interest Payable Salaries Payable Income Taxes Payable Total Current-Liabilities $ 20,703.00 8,965.00 19.80 1,290.00 10,229.49 73,124.84 $ 498,257.44 $ 41,207.29 Long-Term Liabilities Notes Payable Bond Payable Premium on Bond Payable Net Bond Payable Total Long-Term Liabilities Total Liabilities $ 3,960.00 $170,000.00 11,381.68 181,381.68 Stockholder's Equity Capital Stock 4,300 shares $0.01 par value $ Paid in Capital in Excess of Par Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 43.00 219,557.00 52,108.47 185,341.68 $ 226,548.97 271,708.47 $ 498,257.44 At the end of the year $2,580.00 was paid in dividends At the end of the year 4,300 shares were outstanding. A Byte of Accounting Ratios For Year Ending December 31, 2021 At the end of the year the market price of the stock was $47.98 per share. Required: Complete the ratios and the open ended questions and then upload your file to CyberText.com for grading. Accounts Receivable Turnover Net Sales Net Account Receivables $451,350.00 $20,324.30 Round to two decimal places =Round(number,2) 22.2 Acid Test Ratio Basic Earnings Per Share Book Value Per Common Share Current Ratio = Cash+Short-Term Investments+Current Receivables Current Liabilities $41,207.29 Stockholders' Equity Applicable to Common Shares Number of Common Shares Outstanding Current Assets Current Liabilities Days' Sales In Inventory Days' Sales Uncollected Ending Inventory x 365 days Cost of Goods Sold Debt Ratio Debt To Equity Ratio Dividends Per Share Dividend Yield Fixed Asset Turnover Ratio Gross Margin Ratio Total Liabilities Total Assets Total Liabilities Total Equity Annual Cash Dividend Per Share Market Price Per Common Share Inventory Turnover Operating Margin Ratio = Price Earnings Ratio Profit Margin Return on Assets = Time Interest Earned = Total Asset Turnover Cost of Goods Sold Market Price Per Common Share Earnings Per Share Net Income Net Sales Net Income Income Before Interest Expense and Income Tax Expense Interest Expense Net Sales Ratio Formula Accounts Receivable Turnover -Not Salor / Not Accounts Receivable Hell Reariable - Annual Reorinair - Allowanor for Doublful Annual Acid Tart Ratio Baric Earnings Per Share Book Value For Common Share Current Ratio Days' Salor In Inventory Days' Saler Uncollected Debt Ratio Debt To Equity Ratio Dividend Yield Dividends Per Share Fixed Arrot Turnover Ratio Grass Margin Ratio Inventory Turnover Operating Margin Ratio Price Earnings Ratio Profit Margin Return on Arrots Time Interest Earned Total Arrot Turnover -(Carh + Carh Equivalents + Short Term Investments + Current Receivabler) Current Liabilities -(Not Income-Preferred Dividendr)/Number of Common Share Outstanding -Stockholder Equity Applicable To Common Share Number of Common Share Outstanding -Current Arrots / Current Liabilities -(Ending Inventory 365)/Cart of Goods Sold -(Accounts Receivable 365) Not Salor -Total Liabilities/Total Arro -Total Liabilities/Total Equity - Annual Carh Dividends Per Share Market Value Per Share -Annual Carh Dividends / Number of Common Shares Outstanding -Net Income Not Fixed Arrow -Grass Profit/Not Sales -Cart of Goods Sold/Inventory |Hel Fiord Al-Pined Anurlu - Annumulated Deberniation) -Income From Operations Before Interest and Income Taxes / Not Sales -Market Price Per Share Earnings Per Share -Not Income / Not Solos -Not Income Total Arrots -Income Before Interort Expense And Income Tax Interest Expense -Not Salor Total Arrots