Based on the above financial statements, compute the following ratios for the year2008

You have been provided the following comparative balance sheet and income statement. K. L. Widget Company Income Statement For the Year Ended, December 31 , 2008 Sales $150,000 Expenses Cost of goods sold Operating expenses Interest Income tax Total expenses Net operating income Other Income: Gain on sale of equipment Net income Note: All sales were made on credit. $ 80,000 30,000 8,000 13,000 $131,000 $ 19,000 10,000 $29,000