Below is the 2018 and 2019 Statement of Financial Position and Statement of Income for Meadow Farms Inc.

Dec. 31, 2019

Dec 31, 2018 Cash $300,000 $150,000 Short term investments 900,000 650,000 Accounts receivable 1,000,000 750,000 Inventory 400,000 250,000 2,600,000 1,800,000 Land 400,000 400,000 Building, at cost 900,000

900,000 Building, accumulated depreciation (300,000) (250,000) 1,000,000 1,050,000 Total Assets $3,600,000 $2,850,000 Accounts payable 450,000 350,000 Long-term debt 615,000 300,000 Common shares 1,000 1,000 Retained Earnings 2,534,000 2,199,000 2,535,000 2,200,000 Total Liabilities and Equity $3,600,000 $2,850,000 Sales $4,000,000 $5,700,000 Cost of goods sold 3,000,000 5,000,000 Gross Profit 1,000,000 700,000 Depreciation expense 50,000 75,000 Operating expenses 280,000 290,000 330,000 365,000 Net Income before taxes $670,000 $335,000 Required A From the data above, calculate the following (two decimal places and show calculations for part marks) A formula sheet is found at the back of the exam: 2019 2018 1. Current Ratio at Dec 31, 2019 and 2018 (2marks) a b______________ 2. Debt to equity ratio at Dec 31, 2019 and 2018 (2 marks) c d_______________ 3. Gross Profit Percentage at Dec 31, 2019 and 2018 (2 marks) e f______________

De Share Comments COM Dicha Vore Sentraty 1 Aurinn U ACCT 1310 FINAL 520 - Word Boug Hanna H Fle Home Insert Design Layout References Malings Review View Help ACROBAT X Cut Times New Rom12 AA Find A A Aa A.S. 211 Autochet Amar AaBbc Aabbcc AaB AaBbce se SRCEDES ADDLE Etc.Dete Annoczna American SIDER BIU-X APA- 1 Normal 1 No Space 1 No Space Headingi Head ng 2 Subtrtle Subtelm.. Subtiem.. Emphasis Emphasis intensel Strong Intense U.. Subtle 3 Format Panter Select Clipboard Font Praph Editing Below is the 2018 and 2019 Statement of Financial Position and Statement of Income for Meadow Farms Inc. 2019 2018 Dec 31, 2019 Dec 31, 2018 1. Current Katso at Dec 31, 2019 and 2018 (2arks) a b b Cash 5300,000 $150,000 2. Debe to equity ratio at Dec 31, 2019 and 2018 (2 marks) _ Short term lovestments 900.000 650.000 Accounts receivable 1,000,000 750,000 3. Gross Profit Percentage at Dec 31, 2019 and 2018 (2 marks) f Inventory 400.000 250,000 2.600.000 Land Building, al cost Building, accumulated depreciation 400,000 900,000 (300,000 1.000.000 400,000 900.000 (250,000) 1,050.000 Total Assets $3.600.000 $2.850.000 Accounts payable Long-term debt 450.000 615.000 350,000 300 000 Commons Retained Earnings 1,000 2,534,000 2.535.000 1,000 2.199.000 2200 000 Total Liabilities and Equity $3.600,000 $2.550.000 Sales S4 000 000 $5.700 000 Cost of goods sold Gross Profit 1.000.000 700.000 3,000,000 1.000.000 50.000 280,000 330.000 Depreciation capere Operating expenses 75030 290,000 365.000 Income before the S670.000 $335.000 Required A From the data above, calculate the following (two decimal places and show calculations for part mark) A fome short flat the back of the exam Page 1050 worth to Urdu Focus