Cash and cash equivalents Deposits Marketable securities Inventory Property & equipment, net Loan to shareholders Notes receivable Trade accounts receivable TOTAL ASSETS Sales tax payable Retained earnings Notes payable - current portion Bond payable - due 2025 Accrued expenes TUNCEL BALANCE SHEET December 31, 2023 and 2022 2023 $ 370,845 4,275 45,000 1,325,688 150,247 35,697 42,010 1,568,128 $ 3,541,890 2023 85,231 1,704,583 11,506 441,618 9,638 375,280 906,034 8,000 Vert. Notes payable, net of current portion Accounts payable Common stock (no par; 500 shares authorized, TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,541,890 2022 $ 348,190 4,275 See accountants' compilation report. 1,594,903 174,936 35,697 52,857 1,106,888 $ 3,317,746 2022 91,315 1,412,186 15,367 558,892 Page 2 Horizontal 8,712 612,271 611,003 8,000 $ 3,317,746 SALES COST OF GOODS SOLD GROSS PROFIT SELLING AND ADMINISTRATIVE EXPENSES OPERATING INCOME OTHER INCOME (EXPENSE) Dividend income Interest expense Total other income (expense) INCOME BEFORE INCOME TAXES PROVISION FOR INCOME TAXES NET INCOME TUNCEL STATEMENT OF INCOME December 31, 2023 and 2022 Ratios 2023 Current ratio Quick ratio Return on assets Gross margin Debt ratio $ 6,746,474 5,195,498 1,550,976 1,355,331 195,645 Vert. (15,274) (15,274) 180,371 $ 180,371 2022 $ 6,502,799 || 4,929,921 1,572,878 1,437,287 135,590 111 (12,791) (12,680) 122,910 Required: For the company formerly known as NILAY, please compute the following for TUNCEL Horizontal Analysis FOR ASSETS SECTION ONLY!!!! Vertical Analysis $ 122,910 For the balance sheet, use Total Assets as your key element - ONLY THE ASSET SECTION!!! For the statement of income, use Sales as your key element Calculate vertical analysis for 2023 ONLY Page 3 ROUND YOUR ANSWERS UP 2 DECIMAL POINTS