Complete the financial statements below and utilize the information to calculate the ratios within the table. Provide a short 1 sentence analysis of each ratio. There is NO REQUIREMENT to complete this in EXCEL PIE Income Statement For the Year Ended Dec. 31, 2016 10 2016 2015 11 Sales 3,850,000 3,432,000 12 Cost of Goods Sold 3,250,000 2,864,000 13 Gross Profit 600,000 568,000 14 Selling and G&A Expenses 15 Fixed Expenses 16 Depreciation Expense 30,300 240,000 100,000 100,000 20,000 18,900 149,700 76,000 17 EBIT 209,100 18 Interest Expense 19 Earnings Before Taxes 73,700146,600 29,480 20 Taxes 58,640 21 Net Income 87,960 44,220 23 Notes: 24 Tax Rate 40% 25 PIE In this short space ust provide your analysis on each ratio Ratio Anal for 2015 and 2016 Ratio 2016 2015 2016 Analysis uidity Ratios Current Ratio 1.00x ick Ratio Efficiency Ratios Turnover 7.00x A/R Turnover 33.64 da Average Collection Period 11.20x xed Asset Turnover Total Asset Turnover Lever Ratios Total Debt Ratio 50.00% n Debt Ratio 20.00% LTD to Total Capitalization 28.57% 1.00x Debt to LTD to Equit 40.00% Co e Ratios 2.50x mes Interest Earned ash Coverage Ratio Profitab Ratios Gross Profit Mar 17.50% 6.25% Operating Profit Margin Net Profit Margiin 3.50% Return on Total Asscts 18.20% Return orn Return on Common E 18.20% uPont ROE 18.20% PIE Balance Sheet For the Year Ended Dec. 3, 2016 2016 2015 2 Cash and Equivalents 52,000 57,600 402,000 Accounts Receivable 4 Inventory Total Current Assets 6 Plant & Equipment 1,290,0001,124,000 527,000 491,000 7Accumulated Depreciation 146,200 8 Net Fixed Assets 360,800 344,800 9 Total Assets 1,650,800 1,468,800 ilities and Owners E 1Accounts Payable 2 Short-term Notes Payable 175,200 145,600 225,000 140,000 200,000 Other Current Liabilitics 136,000 40,200 481,600 323,432 4 Total Current Liabilities 5Long-term Debt 6 Total Liabities 964,812 805,032 Common Stock 460,000 460,000 8Rctained Earnings 9 Total Shareholder's Equity 685,988 663,768 0 Total Liabilities and Owner's Equit 1,650,800 1,468,800 52 53 PIE Statement of Cash Flows For the Year Ended Dec. 31, 2016 (S in 000's 56 Cash Flows from Operations 57 Net Income 58 Depreciation Expense 59 Change in Accounts Receivable 60 Change in Inventorics 61 Change in Accounts Payable 62 Change in Other Current Liabilities 44,220 20,000 50,800 120,800 29,600 4,000 63 Total Cash Flows from 13,780 ations 64 Cash Flows from I 65 Change in Pl 36,000 66 Total Cash Flows from Investin 36,000 67 Cash Flows from Financin 68 Changc in Short-term Notes Pavable 25,000 69 Change in Long-term Debt 70 Change in Common Stock 101,180 71 Cash Dividends Paid to Sharcholders -22,000 72 Total Cash Flows from Fina 104,180 73 Net Change in Cash Balance 5,600 74 75 76 Complete the financial statements below and utilize the information to calculate the ratios within the table. Provide a short 1 sentence analysis of each ratio. There is NO REQUIREMENT to complete this in EXCEL PIE Income Statement For the Year Ended Dec. 31, 2016 10 2016 2015 11 Sales 3,850,000 3,432,000 12 Cost of Goods Sold 3,250,000 2,864,000 13 Gross Profit 600,000 568,000 14 Selling and G&A Expenses 15 Fixed Expenses 16 Depreciation Expense 30,300 240,000 100,000 100,000 20,000 18,900 149,700 76,000 17 EBIT 209,100 18 Interest Expense 19 Earnings Before Taxes 73,700146,600 29,480 20 Taxes 58,640 21 Net Income 87,960 44,220 23 Notes: 24 Tax Rate 40% 25 PIE In this short space ust provide your analysis on each ratio Ratio Anal for 2015 and 2016 Ratio 2016 2015 2016 Analysis uidity Ratios Current Ratio 1.00x ick Ratio Efficiency Ratios Turnover 7.00x A/R Turnover 33.64 da Average Collection Period 11.20x xed Asset Turnover Total Asset Turnover Lever Ratios Total Debt Ratio 50.00% n Debt Ratio 20.00% LTD to Total Capitalization 28.57% 1.00x Debt to LTD to Equit 40.00% Co e Ratios 2.50x mes Interest Earned ash Coverage Ratio Profitab Ratios Gross Profit Mar 17.50% 6.25% Operating Profit Margin Net Profit Margiin 3.50% Return on Total Asscts 18.20% Return orn Return on Common E 18.20% uPont ROE 18.20% PIE Balance Sheet For the Year Ended Dec. 3, 2016 2016 2015 2 Cash and Equivalents 52,000 57,600 402,000 Accounts Receivable 4 Inventory Total Current Assets 6 Plant & Equipment 1,290,0001,124,000 527,000 491,000 7Accumulated Depreciation 146,200 8 Net Fixed Assets 360,800 344,800 9 Total Assets 1,650,800 1,468,800 ilities and Owners E 1Accounts Payable 2 Short-term Notes Payable 175,200 145,600 225,000 140,000 200,000 Other Current Liabilitics 136,000 40,200 481,600 323,432 4 Total Current Liabilities 5Long-term Debt 6 Total Liabities 964,812 805,032 Common Stock 460,000 460,000 8Rctained Earnings 9 Total Shareholder's Equity 685,988 663,768 0 Total Liabilities and Owner's Equit 1,650,800 1,468,800 52 53 PIE Statement of Cash Flows For the Year Ended Dec. 31, 2016 (S in 000's 56 Cash Flows from Operations 57 Net Income 58 Depreciation Expense 59 Change in Accounts Receivable 60 Change in Inventorics 61 Change in Accounts Payable 62 Change in Other Current Liabilities 44,220 20,000 50,800 120,800 29,600 4,000 63 Total Cash Flows from 13,780 ations 64 Cash Flows from I 65 Change in Pl 36,000 66 Total Cash Flows from Investin 36,000 67 Cash Flows from Financin 68 Changc in Short-term Notes Pavable 25,000 69 Change in Long-term Debt 70 Change in Common Stock 101,180 71 Cash Dividends Paid to Sharcholders -22,000 72 Total Cash Flows from Fina 104,180 73 Net Change in Cash Balance 5,600 74 75 76