DC's
Income Statement
Year Ending December 31, 2014
		2014
Sales		1,125,192
Cost of Goods Sold		697,619
Gross Profit		427,573
Operating Expenses:
Selling and Admin Expenses		285,368
Depreciation		12,000
Total Operating Expenses		297,368
Operating Income		130,205
Interest Expense		(13,440)
Investment Income		6,590
Earnings before Income Taxes		123,355
Income Taxes @ 23% effective rate		28,372
Net Income		94,983
DC's
Balance Sheet
December 31, 2104
Assets		2014	2013
Cash		225,800	158,500
Short Term Investments		30,000	30,000
Inventory		48,000	42,000
Other Current Assets		2,000	2,000
Total Current Assets		305,800	232,500
Fixed Assets net of depreciation		192,000	204,000
Total Assets		497,800	436,500
Liabilities and Owners Equity
Accounts Payable		35,000	31,000
Wages Payable		7,400	6,800
Current Maturities of Long Term Debt		11,500	11,500
Deferred Revenue		12,000	9,000
Total Current Liabilities		65,900	58,300
Long Term Debt less Current Maturities		128,000	139,500
Total Liabilities		193,900	197,800
Equity
Common Stock 1,000 shares issued
and outstanding Dec 31, 2014		100,000	100,000
Retained Earnings		203,900	138,700
Total Equity		303,900	238,700
Total Liabilities and Owners Equity		497,800	436,500
Requirements:
Calculate the Following Ratios and give a brief description what they tell us
Curent Ratio, Quick Ratio, Debt to Equity, Return on Equity
Return on Net Operating Assets
Disaggregate RNOA into Net operating profit margin (NOPM) and Net Operating Asset Turnover (NOAT)