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 GOLDEN MEADOWS CONSTRUCTION BALANCE SHEET Current Year 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 334,492 244,254 402,854 306,253 25,365 21.885 37,585 15,234 12.548 0 5,521 4,825 11,254 7-225 824, 720 601,675 FIXED AND OTHER ASSETS Land Buildings Construction Equipment Trucks and Autos Office Equipment Total Fixed Assets Less Ace. Depreciation Net Fixed Assets Other Assets Total Assets 148.000 72.000 203,862 103,662 95.284 95.284 51.245 31.556 56.896 42,546 555,287 345,248 224 512 162.990 330.775 162,258 178.544 171.255 1 334,039935, 190 LIABILITIES Current abilities 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 abilities Long-Term Liabilities Total abilities 565,458 228,585 12.545 18,254 5,218 11,562 15.514 45,250 15,608 16,658 10,521 8.254 3.564 3.002 25,438 35.648 653,907 367,213 153,215 99,073 B07 122 466.286 OWNER'S EQUITY Capital Stock Retained Earnings Current Period Net income Total Equity Total Liabilities and Equity 10.000 10.000 556,917 358,804 D 566,917368, 904 137403915, 190 GOLDEN MEADOWS CONSTRUCTION INCOME STATEMENT REVENUES 3,578,945 100% CONSTRUCTION COSTS Materials Labor Subcontract Equipment Other 512,564 896,514 1.252,352 119,575 5.452 Total Construction Costs 2,886,457 17.1% 25.0% 35.0% 3.3% 0.2% 80.7 1.0% 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 0.8% 0.0% 3.356 0.056 GROSS PROFIT 692.488 19.35 OVERHEAD 422 552 11.8% NET PROFIT FROM OPERATIONS 269,926 75 OTHER INCOME AND EXPENSE 21,521 0.6% PROFIT BEFORE TAXES 291.447 8.1% INCOME TAX 33434 0.9% PROFT AFTER TAXES 258.013