Ampex Corporation, Comparative Balance Sheets, December 31, 201 1, and 2012 (in thousands of dollars) Assets 2012 201 1 Current assets: Cash $ 20 $ 30 Accounts receivable (net) 95 95 Inventory 1 30 1 10 Total current assets $ 245 $ 235 Fixed assets: Land $ 10 $ 10 Building and equipment (net) 120 100 Total fixed assets (net) $130 $110 Other assets: Goodwill and organization costs $ 10 $ 10 Total assets $385 $355 Liabilities and Stockholder's Equity Current liabilities: Accounts payable $ 50 $ 40 Estimated income taxes payable 10 10 Total current liabilities $ 60 $ 50 Fixed liabilities: Mortgage bonds, 10 percent $ 50 $ 50 Total liabilities $110 $100 Stockholders' equity: Convertible preferred stock, 5 percent $ 20 $ 20 Common stock (10,000 shares outstanding) 50 50Retained camings 205 185 Total stockholders equity $275 $255 Total liabilities and stockholders' equity $385 $355 Part B Am pex Corporation Condensed Income Statement, 2012 ( in thousands of dollars) Gross sales $1 1,516 100.66% Less: Returns and allowances 10 0.66 Net sales $ 1,506 100.00% Less: Cost of goods sold 1,004 66.67 Gross profit $ 502 33.33% Operating expenses 400 26.56 Operating profit $ 102 6.77% Interest 0.33% Profit before taxes 97 6.44% Income tax expense 47 3.12 Net income $ 50 3.32 Less: Preferred dividends 0.07 Common dividends 29 1.93 Change in retained earnings $ 20 1.32% Question # 1: Provide an answer for the following ratios: (Hint: remember the statement is in thousands, therefore "10" would be "10,000) Current ratio Acid Test ratio Times Interest camed ratio Debt to equity ratio Inventory turnover ratio Asset turnover ratioGross margin ratio Profit margin ratio Question # 2: (a) Performing a horizontal analysis, with 2012 as the base year, on the balance sheet, what is the percentage change for cash? (b) Performing a vertical analysis, with 2012 as the base year, what is the percentage change for total assets