Business Finance - Spring 2018 - Bonus: Part I Presented here are the 2015 and 2016 financial statements for Widgets, Inc., a ma nufacturer of high- quality widgets Using the financial information provided, calculate the financial ratios listed be low the Income State ments for 2015 and 2016 NOTE: You must show your calculations to receive credit NOTE: You must format your answers correctly to receive credit Considering the fina ncial statements, financial ratios, and the industry ave rages; how would you characterize the financial condition of Widgets, Inc.? Explain Widgets, Inc. Balance Sheets( in thousands) As of Dec. 31 2016 2015 Assets Current Assets Cash and cash equivale nts Accounts Recievable, net of allowances Inve ntories 56,203 $ 20,656 $ 29,294 $ 5,761 $ 111,914$ 137,273$ 50,574 86,699 $ 105,327 $ 303,940 $ 88,942 12.889 24,845 6,536 133,212 85,024 (44,767) 40,257 51,001 224,470 paid Expenses Total Curre nt Assets Property, Plant, and Equipment, at cost Less: Accumulated deprteciation and amortization Net fixed assets Other assets Total Assets Liabilities and share holders' equit Current Liabilities Notes and Accounts Payable Dividends Payable Accrued Liabilities 28,860 $ 1,026 $ 20976 50,862 $ 4,927 791 16.780 22,498 Total Curre nt Liabilities Noncurrent Liabilities Long-termdebt 40,735 $ 20,268 Shareholders' Equity 7,315 111,108$ 93,920 $ 212,343$ Common Stock 7,103 86,162 88,439 181,704 224,470 10848,000 Capital in excess of par value Retained Earnings Total shareholders' equity S303,940 S 10,848, 000 Total Liabilities and Equit Average Number of Common Shares Outstanding