all the yellow areas need to be filled out

1. Use ratios to analyze a company's liquidity and solvency. Calculate Select Ratios - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 A A Paste BIU Alignment Number Conditional Format as Cell Formatting Table Styles Clipboard Font Styles A1 y Condensed financial statements for Games Galore are summarized below: B C D 1 Condensed financial statements for Games Galore are summarized below: 2 3 Balance Sheet 4 Cash $ 2016 185,000 $ 80,000 104,000 11,900 380,900 514,500 895,400 $ 2015 143,000 59,000 134,000 5,880 341,880 407,000 748,880 $ 5 Accounts Receivable, Net 6 Inventory 7 Prepaid Insurance 8 Total Current Assets 9 Property and Equipment, Net 10 Total Assets 11 12 Current Liabilities 13 Long-term Liabilities 14 Total Liabilities 15 Contributed Capital 16 Retained Earnings 17 Total Stockholders' Equity 18 Total Liabilities and Stockholders' Equity 19 $ 85,300 $ 284,000 369,300 299,000 227,100 526,100 895,400 $ 96,800 224,000 320,800 299,000 129,080 428,080 748,880 $ Income Statement Net Sales (all on account) Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Interest Expense Income before Income Tax Expense Income Tax Expense Net Income $ 3,031,000 1,949,000 1,082,000 891,400 190,600 14,500 176,100 47,000 $ 129,100 Required: Compute the following liquidity ratios for 2016. Round to the required number of decimal places USING THE EXCEL. ROUND FUNCTION (fx). Current ratio (rounded to one decimal place) Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days' sales in inventory (rounded to the nearest day) to 1 times days times days to 1 times Compute the following Solvency Ratios for 2016. Again, USE THE EXCEL ROUND FUNCTION (fx). Debt to assets (rounded to two decimal places) Times interest earned (rounded to one decimal place) Compute the following Profitability Ratios for 2016. Again, USE THE EXCEL ROUND FUNCTION (fx). Profit margin ratio (rounded to one decimal place) Gross margin ratio (rounded to one decimal place) percent percent