Chapter 15 Due January 30 This Year Last Year Assets Current Assets: Cash Accounts Receivable Inventory Total Current Assets Property, Plant & Equipment (net) Total Assets $ 10,000 $ 15,000 $ 15,000 $ 25,000 $ 25,000 $ 15,000 $ 50,000 $ 55,000 180,000 $ 170,000 $ 230,000 $ 225,000 li Liabilities & Equities Liabilities: Total Current Liabilities Bonds Payable Total Liabilities Equities: Common Stock Retained Earnings Total Equities Total Liabilities & Equities $ $ $ 2,500 $ 75,000 $ 77,500 $ 3,000 75,000 78,000 $ 100,000 $ 100,000 $ 52,500 $ 47,000 $ 152,500 $ 147,000 $ 230,000 $ 225,000 Sales Revenue $ 250,000 $ 220,000 Cost of Goods Sold $ 155,000 $ 132,000 Gross Margin $ 95,000 $ 88,000 Selling & Administrative Expenses $ 74,250 $ 73,500 Operating Income $ 20,750 $ 14,500 Interest Expense $ 5,500 $ 5,500 Net Income $ 15,250 $ 9,000 Calculate each of the following ratios for This Year: 1. Current Ratio 2. Accounts Receivable Turnover 3. Average Collection Period (average days in accounts receivable) 4. Inventory Turnover 5. Average sale period (average days in inventory) 6. Operating Cycle 7. Gross Margin Percentage 8. Net profit margin percentage 9. Return on assets 10. Return on equity You can upload either an EXCEL file with your solutions or a PDF