Calculate the ratios for the following year 2014 rounded to 2-decimal places.

C D 15,438 (50) 15,388 4,723 10,665 1,519 5,688 313 2 INCOME STATEMENT 3 FOR THE YEAR ENDED DECEMBER 31, 2014 4 Sales Revenue 5 Less: Sales Return 6 Net Sales 7 Cost of Goods Sold 8 Gross Profit 9 Utilities Expenses 10 Salary and Wages Expenses 11 Rent Expenses 12 Depreciation Expenses 13 Interest Expenses 14 Supplies Expenses 15 Bad Debt Expenses 16 Total Operating Expenses 17 Earnings before Income Taxes 18 Income Tax Expenses 19 Earnings after Income Taxes 20 121 1,781 788 50 163 10,300 364 31 333 CAPTAIN JET INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 Retained Earnings, Begir 19,031 Net Income/Loss 333 Dividends Payment (100) Retained Earnings, End c 19,264 M M 31-Dec-13 CAPTAIN JET INC. BALANCE SHEET 31-Dec-14 Current Assets Cash Accounts Receivable Inventories Prepaid Insurance Prepaid Rent Total Current Assets Non-Current Assets Long-term Investments Investments in equity securities Land held for future development Property, Plant, and Equipment Buildings Less: Accumulated Depreciation Intangible Assets Capitalized Development Costs Goodwill Other Identifiable Intangible Assets Total Non-Current Assets Total Assets 10,600 7,088 5,052 68 500 23,307 0 0 6,375 5,688 0 48,875 (25,219) 0 1,000 9,500 6,000 52,219 75,526 0 0 6,688 5,150 6,850 5,000 68 63 17,130 0 0 6,375 5,688 0 47,000 (23,438) 0 1,000 9,500 6,000 52,125 69.255 0 0 4,188 Current Liabilities Accounts payable M 0 0 0 Current Liabilities Accounts payable Salary and Wages Payable Interest Payable Unearned Revenue Income Tax payable Property taxes payable Utilities payable Total Current Liabilities Non-Current Liabilities Notes payable Provisions Related to Pensions Bonds Payable Total Non-Current Liabilities Total Liabilities Stockholders' Equity Common Stock (S10 par, 11,000 and 10,000 shares Preferred Stock (5% dividend, $100 par values, 105 Paid-in-capital - Common Stock Paid-in-capital - Preferred Stock Retained Earnings Accumulated Other Comprehensive Income Less: Treasury Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity 0 6,688 188 225 1,500 1,086 825 156 10,668 0 15,000 0 0 15,000 25,668 0 13,750 13,125 3,438 1,250 19,264 625 (1,594) 49,858 75,526 4,188 0 188 1,500 1,055 825 0 7,755 0 13,750 0 0 13,750 21,505 0 12,500 12,500 3,438 1,250 19,031 625 (1,594) 47,750 69.255 1 Working capital = 12,639 2 Current ratio = 2.18 3 Acid test ratio 1.66 2.21 4 Accounts receivable turnover = (use net sales as numerator) 165 days 5 Collection period of receivat = (use 360 days in each year) 6 Accounts payable turnover ra= 7 Inventory turnover ratio = 8 Days to sell inventory 11 9 Debt-to-Equity ratio 10 Times interest earned 11 RNOA (assume 12% tax rate)