Below are the financial statements for JCC, Inc. Compute ICP RCP OC PCP CCC (

A) Using Y/E Balance Sheet Values

(B) Using average Balance Sheet Values

***** Purchases is 90% of cost of goods sold

(C) How would you answers for PPP and CCC change if purchases was 95% of CGS

Jimmy Crack Corn, Inc Balance Sheet 12/31/16 and 12/31/17 Assets Current Assets Cash St. Investments Accounts Receivable Supplies Inventory Prepaid Insurance $ $ $ $ S 12/31/2017 158,700 37,125 245,000 120,000 12,750 $ $ $ $ $ 12/31/2016 87,500 50,000 276,750 175,000 15,000 $ 573,575 $ 604,250 Total Current Assets Property, Plant and Equipment Land Building Equipment Accumulated Depreciation $ $ $ $ 175,000 1,250,000 375,000 (134,750) $ $ $ $ 165,000 1,200,000 225,000 (125,000) Total Property, Plant & Equip Net $ 1,665,250 $ 1,465,000 Total Assets $ 2,238,825 $ 2,069, 250 $ Liabilities & Stockholders Equity Current Liabilities Accounts Payable Wages Payable Income Taxes Payable Accreud Expenses $ S S S 325,000 12,000 30,000 10,500 $ $ $ 420,000 11,000 25,000 9,750 $ 377,500 $ 465,750 Total Current Liabilities Long Term Debt Bond Payable $ 750,000 $ 800,000 Total Liabilities $ 1,127,500 $ 1,265,750 Stockholders Equity Common Stock Add'l Paid In Capital Retained Earnings $ $ $ 100,000 650,000 361,325 $ $ $ 75,000 600,000 128,500 Total Stockholders Equity $ 1,111,325 $ 803,500 Total Liabilities and Stockholders Equity $ 2,238,825 $ 2,069,250 Jimmy Crack Corn, Inc Income Statement For the Year Ended 12/31/17 Net Revenue $ 5,750,000 Cost of Sales $ 3,750,000 Gross Profit $ 2,000,000 Operating Expenses Selling General and Admin Depreciation Gain on Sale of investments $ 834,000 $ 675,000 $ 9,750 $ (30,000) Operating Expenses $ 1,488,750 Income From Operations $ 511,250 Interest Expense $ (77,500) Income Before Taxes $ 433,750 Income Taxes $ (130,125) Net Income $ 303,625