Calculate financial ratios for Fun Food Co. 2018 and 2019 on the Calculate Ratios worksheet. Assume a 20 percent statutory tax rate.

** This is all the information that was provided to me. 1. Selected Ratios to solve for. 2. Income Statement. 3. Balance Sheet. 4. The question provides this additional information: Assume a 20 percent statutory tax rate.

***No other information was provided for this question.

8 9 -0 -1 -2 -3 4 Fun Food Co. Balance Sheet As at December 31 (millions of $) selected balances from 12/31/2017 are provided 2019 2018 2017 $ 484 $ 270 2,173 1,723 1,675 4,512 3,695 3339 7,169 5,688 11,000 11,300 14,163 11,356 765 765 $ 33,097 $ 29,109 $ 28,066 -5 -6 Assets 7 Current Assets -8 Cash -9 Accounts receivable, net O Inventories 1 Total Current Assets 2 Land 3 Building and Equipment, net 4 Long-term Investments 5 Total Assets 6 7 Liabilities and Stockholders' Equity 8 Current Liabilities 9 Accounts payable 0 Unearned revenues 1 Accrued liabilities 2 Total Current Liabilities 3 Long-Term Debt 4 -5 Stockholders' Equity 6 Common stock and additional paid-in capital -7 Treasury stock 8 Retained earnings 9 Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity 1 2 3 4 5 6 $ 1,926 $ 1,694 $ 1,698 609 582 876 844 3,411 3,120 15,604 13,186 1,045 1,045 (663) (556) 13,700 12,314 14,082 12,803 $ 10,541 $ 33,097 $ 29,109 $ 28,066 Fun Food Co. Selected ratios 2019 2018 Write any notes below: Current ratio A/R Turnover Inventory Turnover Debt-to-Equity Return on Equity Return on Financial Leverage Return on Assets Net Profit Margin Asset Turnover Fun Food Co. Income Statement For the year ended December 31 (millions of $) Net sales revenue Cost of goods sold Gross profit Selling, general, and administrative expenses Depreciation expense Operating income Interest expense Gain on sale of land Pre-tax income Income tax expense Net income 2019 2018 $ 42,405 $ 40,052 _37,383 34,956 5,022 5,096 1,097 1,121 1,109 943 2,816 3,032 451 343 66 56 2,431 2,745 396 (282) $ 2,035 $ 3,027 $ Earnings per share Average shares outstanding (millions) 5.56 $ 366 8.20 369