Compute the liquidity and profitability ratios of Frizell Company for 2013 and 2014

Problem 13-4A (Part Level Submission) The following financial information is for Frizell Company. FRIZELL COMPANY Balance Sheets December 31 2013 ssets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2017 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity 2014 $70,000 65,000 40,000 90,000 165,000 23,000 130,000 185,000 55,000 104,000 230,000 25,000 130,000 260,000 $170,000 $120,000 52,000 40,000 170,000 200,000 200,000 65,000 40,000 250,000 149,000 $874,000$698,000 FRIZELL COMPANY Income Statements For the Years Ended December 31 2014 2013 $790,000 575,000 215,000 167,000 $ 48,000 Sales revenue Cost of goods sold Gross profit Operating expenses Net income $882,000 640,000 242,000 190,000 $52,000 Additional information: 1. Inventory at the beginning of 2013 was $115,000. 2. Accounts receivable (net) at the beginning of 2013 were $86,000. 3. Total assets at the beginning of 2013 were $660,000 4. No common stock transactions occurred during 2013 or 2014. 5. All sales were on account