Calculate the following ratios given the data below: (10 points) Current assets Current ratio: Current liabilities Profit margin Net income Net sales Net income Return on equity Average total equity CHEESY CHUCK'S CLASSIC CORN Balance Sheet June 30, 2018 Assets Liabilities Cash 6,200 Account Payable 650 Equipment 12,500 Wages Payable 1,200 Total Liabilities 1,850 Equity Common Stock 12,500 Retained Earnings 4,350k Total Equity 16,850 Total Assets 18,700 Total Liabilities & Equity 18,700 CHEESY CHUCK'S CLASSIC CORN Income Statement For the Month Ended June 30, 2018 Revenues: Sales Revenue Total Revenues 85,000 85,000 Expenses: Popcorn Expense 22,800 Seasonings Expense 17,300 Wages Expense 10,700 Rent Expense 24,000 Utilities Expense 3,200 Advertising Expense 900 Miscellaneous Expense 300 Total Expenses 79,200 Net Income (85,000 -- 79,200) 5,800