Determine the following financial ratios for the commercial construction company having both the balance sheet and income statement shown. NOTE: Round answers to four decimal places. Quick Ratio Debt to Equity Ratio Fixed Asset to Net Worth Ratio Gross Profit Margin Degree of Fixed Asset Newness TALL TIMBERS CONSTRUCTION BALANCE SHEET Current Year Last Year ASSETS CURRENT ASSETS Cash Acounts Receivable - Trade Accounts Receivable - Retention Costs and Profits in Excess of Billings Notes Receivable Prepaid Expenses Other Current Assets Total Current Assets 154,492 144,254 402,854 308,253 25,365 21,885 32,586 15,234 12,548 0 5,621 4,825 11,254 7,225 644,720 501,676 FIXED AND OTHER ASSETS Land Buildings Construction Equipment Trucks and Autos Office Equipment Total Fixed Assets Less Acc. Depreciation Net Fixed Assets Other Assets Total Assets 98,000 72,000 103,862 103,862 95,284 95,284 51,245 31,556 56,896 42,546 405,287 345,248 224,512 182,990 180,775 162,258 178,544 171,256 1,004,039 835, 190 LIABILITIES Current Liabilities Accounts Payable - Trade Accounts Payable - Retention Billings in Excess of costs and Profits Notes Payable Accrued Payables Accrued Taxes Accrued Vacation Other Current Liabilities Total Current Liabilities Long Term Liabilities Total Liabilities 425,458 228,585 12,516 18,254 5,218 11,562 15,514 45,250 15,618 16,658 10,521 8,254 3,564 3,002 25,438 35,648 513,907 367,213 153,215 99,073 667,122 466,286 LIABILITIES Current Liabilities Accounts Payable - Trade Accounts Payable - Retention Billings in Excess of Costs and Profits Notes Payable Accrued Payables Accrued Taxes Accrued Vacation Other Current Liabilities Total Current Liabilities Long Term Liabilities Total Liabilities 425,458 228,585 12,546 18,254 5,218 11,562 15,514 45,250 15,618 16,658 10,521 8,254 3,561 3,002 25,438 35,648 513,907 367,213 153,215 99,073 667,122 466,286 OWNER'S EQUITY Capital Stock Retained Earnings Current Period Net Income Total Equity Total Liabilities and Equity 10,000 10,000 556,917 358,904 0 0 566,917 368,904 1,234,039 835,190 TALL TIMBERS CONSTRUCTION INCOME STATEMENT REVENUES 3,978,915 100% CONSTRUCTION COSTS Materials Labor Subcontract Equipment Other 712,564 896,514 1,452,352 119,575 5,452 Total Construction Costs 3,186,457 17.9% 22.5% 36.5% 3.0% 0.1% 80.1% EQUIPMENT COSTS Rent and Lease Payments Depreciation Repairs and Maintenance Fuel and Lubrication Taxes, Licenses, and Insurance Equipment Costs Charged to Jobs Equipment Costs Charged to Employees Total Equipment Costs 35,425 32,397 21,254 29,245 1,254 119,575 0 0 0.9% 0.8% 0.5% 0.7% 0.0% 3.0% 0.0% 0.0% GROSS PROFIT 792,488 19.9% OVERHEAD 422,562 10.6% NET PROFIT FROM OPERATIONS 369,926 9.3% OTHER INCOME AND EXPENSE 21,521 0.5% PROFIT BEFORE TAXES 391,447 9.8% INCOME TAX 33,434 0.8% PROFIT AFTER TAXES 358,013 0