All questioned must be answered as a formula

3 Ints Games Galore has provided its condensed financial statements for the year ended December 31, 2016. The Controller has asked you to calculate liquidity, solvency, and profitability ratios that management can use decision making. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below. If in a blank cell, "=B9" was entered the formula would output the result from cell B9. or $514.500 In this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: - (plus sign to add). - (minus sign to subtract). * (asterisk sign to multiply), and / (forward slash to divide). From the Excel Simulation below on the Balance Sheet tab, if in a blank cell"=C15-C16" was entered the formula would add the values from those cells and output the result, or 428,080 In this example. If using the other math symbols the result would output an appropriate answer for its function. ROUND function: Allows you to round a number or result of a formula calculation to a specific number of digits. The syntax of the ROUND function is "=ROUND(number,num_digits" and returns the result of your formula rounded to a particular number of digits. The number argument can be a cell reference to a number or a formula itself that results in a number. The num_digits argument is the number of digits you want to round. The num_digits value rounds based on basis mathematical rounding rules. where anything below 5 will round down and anything 5 and above rounds up. Also, the num_digits value should be a positive value to round to any number of decimal places, while a negative value would round to the left of the decimal place, and a zero would round to the nearest whole number. If the value 1,253.5693 was entered in cell A1, It can be used in the ROUND function as the number reference. In this example, if the value in cell A1 should be rounded to 2 decimal places. In a new cell the function would be written as "=ROUND(A1,2)" and would result in as 1.253.57 In this example. If the number in cell A1 should be rounded to the nearest hundred place, in a new cell the function would be written as "=ROUND(A1.-2) and would result in 1.300 In this example. eBook Print Reference: 22 ? - Calculate Select Ratios - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In Calibri 11 AA BIU- A Cells Paste Clipboard Alignment Number Conditional Format as Cell Formatting - Table Styles Styles Font D9 To A B C $ 2016 185,000 $ 80,000 104,000 11,900 380,900 514,500 895,400 5 2015 143,000 59,000 134,000 5,880 341,880 407,000 748,880 S $ 1 ondensed nnancial statements for Games Galore are summarized below: 2 3 alance Sheet 4 ash 5 ccounts Receivable, Net 6 ventory 7 repaid Insurance 8 Total Current Assets 9 roperty and Equipment, Net 10 Total Assets 11 12 urrent Liabilities 13 Ing-term Liabilities 14 Total Liabilities 15 ontributed Capital 16 stained Earnings 17 Total Stockholders' Equity ' 18 Total Liabilities and Stockholders' Equity 19 20 icome Statement 21 et Sales (all on account) 22 ost of Goods Sold 23 ross Profit 24 Deratine Exnences Sheet1 85,300 S 284,000 369,300 299,000 227,100 526,100 895,400 $ 96,800 224,000 320,800 299,000 129,080 428,080 748, BBO $ $ 3,031,000 1,949,000 1,082,000 801 400 D READY + 100% Hint Attempt(s) FILE Calculate Select Ratios - Excel FORMULAS DATA REVIEW HOME INSERT PAGE LAYOUT VIEW Sign In = Calibri 11 A % Paste BIU- Cells Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font D9 A B $ 3,031,000 1,949,000 1,082,000 891,400 190,600 14,500 176,100 47,000 $ 129, 100 19 20 icome Statement 21 et Sales (all on account) 22 ost of Goods Sold 23 ross Profit 24 perating Expenses 25 come from Operations 26 terest Expense 27 come before Income Tax Expense 28 come Tax Expense 29 et income 30 31 equired: 32 pmpute the following liquidity ratios for 2016. Round to the 33 :quired number of decimal places USING THE EXCEL. 34 DUND FUNCTION (5x). 35 Current ratio (rounded to one decimal place) 36 Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 38 Inventory turnover (rounded to two decimal places) 39 Days to sell (rounded to the nearest whole day) 40 41 ompute the following Solvency Ratios for 2016. Again, USE 42 HE EXCEL ROUND FUNCTION.Ixl Sheet1 to 1 times days times days READY + + 100% Attempt(s) Hint Calculate Select Ratios - Excel ? . FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in Calibri 11 RA % Paste BIU. Cells Alignment Number Conditional Format as Cell Formatting - Table Styles - Styles Clipboard Font ? D9 A B c D to 1 times days times days 31 quite 32 pmpute the following liquidity ratios for 2016. Round to the 33 :quired number of decimal places USING THE EXCEL. 34 DUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 36 Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 38 Inventory turnover (rounded to two decimal places) 39 Days to sell (rounded to the nearest whole day) 40 41 Dmpute the following Solvency Ratios for 2016. Again, USE 42 HE EXCEL ROUND FUNCTION (fx). 43 Debt to assets (rounded to two decimal places) 44 Times interest earned (rounded to one decimal place) 45 46 ompute the following Profitability Ratios for 2016. Again, USE 47 HE EXCEL ROUND FUNCTION (FX). 48 Net profit margin (rounded to one decimal place) 49 Gross profit percentage (rounded to one decimal place) 50 to 1 times percent percent 51 52 53 - Sheet1 READY 100% Attempt(s) Hint