B Balance Sheet 2022 5 Cash 6 Accounts Receivable, Net $185 000 80 000 2021 $143 000 Inventory 104 000 59 000 134 000 B Prepaid Insurance 11 900 5 880 9 Total Current Assets 380 900 341 880 10 Property and Equipment, Net 514 500 407 000 11 Total Assets $895 400 $748 880 12 Current Liabilities $85 300 $96 800 13 Long-term Liabilities 284 000 224 000 14 Total Liabilities 369 300 320 800 15 Contributed Capital 299 000 299 000 16 Retained Earnings 227 100 129 080 17 Total Stockholders' Equity 526 100 428 080 18 Total Liabilities and Stockholders' Equity $895 400 $748 880 19 20 Income Statement Net Sales (all on account) Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 26 Interest Expense 7 income before Income Tax Expense Income Tax Expense Net Income $3 031 000 1949 000 1 082 000 891 400 190 600 14 500 176 100 47 000 $129 100 Required: 22 Compute the following liquidity ratios for 2022. 33 Round to the required number of decimal places using the Excel-ROUND function Current ratio (rounded to one decimal place) Accounts receivable turnover (rounded to two decimal places) Days' sales uncollected (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days' sales in inventory (rounded to the nearest whole day) 4,5 43,61 You mu times You mu days You mu 16,38 times You mu 22 days You mu Compute the following Solvency Ratios for 2022. Round to the required number of decimal places using the Excel =ROUND function 42 Debt ratio ("%" format, rounded to one decimal place) 40,0% 43 Times interest earned (rounded to one decimal place) 13,1 times You mus You mus 44 45 Compute the following Profitability Ratios for 2022. 46 Round to the required number of decimal places using the Excel -ROUND function 47 Profit margin ratio ("%" format, rounded to one decimal place) 48 Gross margin ratio ("%" format, rounded to one decimal place) 0,0% 40,0% You mus You mus 49 50 51