Concord Corporation Income Statement For the Year Ended December 31, 2017 Net sales Cost of goods sold Selling and administrative expenses Interest expense Income tax expense $2,229,700 1,024,800 921,900 92,900 70,030 $ 120,070 Net Income Concord Corporation Balance Sheet December 31, 2017 Assets Current assets Cash Debt investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 71,300 85,030 184,500 161,200 502,030 587,700 $ 1,089,730 $ 171,200 36,530 207,730 214,700 422,430 362,400 304,900 667,300 $1,089,730 MacBook Air 36,530 207,730 214,700 422.430 Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total abilities and stockholders' equity 362,400 304,900 667,300 $1,089,730 Additional Information: The net cash provided by operating activities for 2017 was $202,000. The cash used for capital expenditures was $104,400. The cash used for dividends was $32,030. The weighted average number of shares outstanding during the year was 50,000. (a) Compute the following values and ratios for 2017. (We provide the results from 2016 for comparative purposes.) (Round Current Ratio and Earnings per share to 2 decimal places, e.. 15.25 and Debt to assets ratio to 1 decimal place, .. 78.9%. Enter negative amounts using either a negative sign preceding the number .g. -45 or parentheses e.g. (45) 0 Working capital. (2016: $160,500) (U) Current ratio. (2016: 1.65:1) (II) Free cash flow. (2016: $48,700) (iv) Debt to assets ratio. (2016: 31%) (v) Earnings per share. (2016: $3.15) 0) Working capital $ C#) Current ratio :1 (MI) Free cash flow $ (1) Dent to assets ratio () Earnings per share $