Condensed financial statements for Games Galore are summarized below:

Balance Sheet

Cash

Accounts Receivable, Net

Inventory

Prepaid Insurance

Total Current Assets

Property and Equipment, Net

Total Assets

Current Liabilities

Long$-$term Liabilities

Total Liabilities

Contributed Capital

Retained Earnings

Total Stockholders' Equity

Total Liabilities and Stockholders' Equity

C

Income Statement

Net Sales $($all on account$)$

Cost of Goods Sold

Gross Profit

Operating Expenses

Income from Operations

Interest Expense

Income before Income Tax Expense

Income Tax Expense

Net Income

Compute the following liquidity ratios for $2016.$ Round to the

required number of decimal places USING THE EXCEL.

ROUND FUNCTION $($fx$).$

Current ratio $($rounded to one decimal place$)$

Receivables turnover $($rounded to two decimal places$)$

Days to collect $($rounded to the nearest whole day$)$

Inventory turnover $($rounded to two decimal places$)$

Days' sales in inventory $($rounded to the nearest day$)$

Compute the following Solvency Ratios for $2016.$ Again, USE

THE EXCEL ROUND FUNCTION $(fx).$

Debt to assets $($rounded to two decimal places$)$

Times interest earned $($rounded to one decimal place$)$

Compute the following Profitability Ratios for $2016.$ Again, USE

THE EXCEL ROUND FUNCTION $($fx$).$

Profit margin ratio $($rounded to one decimal place$)$

Gross margin ratio $($rounded to one decimal place$)$

A

B