Below is the trial balance for company "x". Prepare a balance sheet and income statement and then answer the following 10 questions. Enter all numbers in decimal format (no percentages) with two decimals (example - .34 not 34%).

What is the Gross Profit Margin?

What is the amount of total fixed assets?

What is the amount of the total current liabilities?

What is the amount of the total equity section of the balance sheet?

What is the current ratio?

What is the quick ratio?

What is the long-term debt ratio to Total Asset Ratio?

What is the AR turnover ratio?

What is the ROA ratio?

What is the ROE ratio?

			General Ledger
			Account Balance
Account Name		Debit		Credit
Cash in checking		50,000.00
Cash in savings		50,000.00
Accounts receivable		50,000.00
Inventory		50,000.00
Vehicles		10,000.00
Furniture and fixtures		$15,000.00
Equipment		$10,000.00
Accumulated depreciation				$5,000.00
Accounts payable				12,500.00
Sales tax payable				2,500.00
Payroll Tax Payable				5,000.00
Current Portion Long-Term Debt				5,000.00
Bank loan payable - Long Term Debt				20,000.00
Notes payable (less than 1 year)				12,500.00
Common stock				25,000.00
Preferred stock				12,500.00
Retained earnings				50,000.00
Sales				1,250,000.00
Cost of goods sold		825,000.00
Depreciation		5,000.00
Insurance		5,000.00
Advertising		2,500.00
Interest expense		2,500.00
Office expense		2,500.00
Payroll taxes		35,000.00
Rent		5,000.00
Utilities		2,500.00
Vehicle expenses		5,000.00
Wages		250,000.00
Income taxes		25,000.00
Totals		1,400,000.00		$1,400,000.00