a. Selected financial ratios computed from Tanners financial statements are given below: Current ratio 2.00 Acid-test ratio 1.18 Accounts receivable turnover 16.0 Inventory turnover 9.0 Debt-to-equity ratio 0.870 Times interest earned 5.0 Earnings per share $ 3.72 Return on total assets 10 % b. All sales during the year were on account. c. The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change throughout the year. d. There were no changes in the number of shares of common stock outstanding during the year. e. Selected balances at the beginning of the current year (January 1) were as follows: Accounts receivable $ 330,000 Inventory $ 440,000 Total assets $ 1,850,000

Required Compute the missing amounts on the company's financial statements. (Input values. Round your final answers to the nearest whole dollar amount.) Income Statement For the Year Ended December 31 $4,700,000 Sales Cost of goods sold Gross margin Selling and administrative e Net operating income Interest expense Net income before taxes Income taxes (40%) 62,000 Net income