Cristal Clear, Inc., a manufacturer of water purification systems, has accidentally erased parts of its 2017 and 2016 financial statements. Help the company fill in the missing data using your knowledge of financial ratios.

Cristal Clear, Inc.
Ratios	2017	2016
Liquidity Ratios
Current Ratio	2.35x	Ratio
Quick Ratio	Ratio	0.80x
Efficiency Ratios
Inventory Turnover Ratio	Ratio	3.50x
A/R Turnover Ratio	14.00x	Ratio
Average Collection Period	Ratio	40.00 days
Fixed Asset Turnover	15.00x	Ratio
Total Asset Turnover	Ratio	Ratio
Leverage Ratios
Total Debt Ratio	60.00%	Ratio
Long-Term Debt Ratio	Ratio	35.00%
LTD to Total Capitalization	Ratio	Ratio
Debt to Equity	Ratio	Ratio
Long-Term Debt to Equity	Ratio	Ratio
Coverage Ratios
Times Interest Earned	Ratio	4.00x
Cash Coverage Ratio	3.00x	Ratio
Profitability Ratios
Gross Profit Margin	Ratio	Ratio
Operating Profit Margin	Ratio	Ratio
Net Profit Margin	Ratio	3.00%
Return on Total Assets	4.20%	Ratio
Return on Equity	Ratio	12.00%
Return on Common Equity	Ratio	Ratio

Cristal Clear, Inc.					Cristal Clear, Inc.
Income Statement					Balance Sheet
For the Year Ended Dec. 31, 2017					As of Dec. 31, 2017
	2017	2016			Assets	2017	2016
Sales	Ratio	Ratio			Cash and Equivalents	46,000	50,000
Cost of Goods	Ratio	2,466,000			Accounts Receivable	Ratio	Ratio
Gross Profit	Formula	Formula			Inventory	Formula	Ratio
G&A Expenses	Formula	207,000			Total Current Assets	Ratio	Formula
Other Expenses	115,000	Formula			Plant & Equipment	Formula	435,000
Depreciation	Ratio	Ratio			Accumulated Depreciation	146,000	Formula
EBIT	173,000	Ratio			Net Fixed Assets	Formula	Formula
Interest Expense	Formula	54,000			Total Assets	Ratio	1,490,000
EBT	Formula	Formula			Liabilities and Owners' Equity
Taxes	Formula	Formula			Accounts Payable	Formula	131,000
Net Income	59,500	Formula			Short-term Notes Payable	201,000	Formula
Notes					Other Current Liabilities	121,000	117,000
Tax Rate	40%				Total Current Liabilities	480,000	Ratio
					Long-term Debt	Formula	Formula
					Total Liabilities	Ratio	Formula
					Common Stock	Formula	408,000
					Retained Earnings	199,000	Formula
					Total Shareholder's Equity	Formula	Ratio
					Total Liab. and OE	Formula	Formula

1. Using the ratios provided, recreate the financial statements as shown using formulas.
2. Complete the financial statements using formulas that refer to existing data to fill in the remaining cells.