E F K G H J K L M Calculate the following ratios: 1 Current ratio 2 Account receivable turnover Assume Account Receivable at the beginning of the year was 80,000 3 Debt-equity ratio 25.19% 4 Number of times interest earned ratio 5 Operating efficiency ratio 6 Profit margin 7 Return on owner's equity 5.37% Assume the only change in owner's equity during 2074 was the net income of $74,400 8 Return on total assets 2.34% Assume Total Assets was $1,540,000 on January 1, 20X4 0.0585 A B C D 3 Balance Sheet 4 December 31, 20x4 5 Assets 6 Current Assets 7 Cash 45,000 8 Account Receiva 100,000 9 Inventories 5,000 10 Total Current A 150,000 11 Propeprty and Equipment 12 Land 110,000 13 Building (net) 1,300,000 14 Furniture and Equ 80,000 15 Total Property 1,490,000 16 Total Assets 1,640,000 17 18 Liabilities and Owr 19 Current Liabilities 160,000 20 Long-term Liabilities 21 Note from Owner 90,000 22 Mortgage Payable 80,000 23 Total Liabilities 330,000 24 Owner's Equity 25 Common Stock 900,000 26 Retained Earning: 410,000 27 Total Owner's E 1,310,000 28 Total Liabilities and Owner': 1,640,000 29 30 31 Condensed Income Statement 32 or the year ended December 31, 20 33 Sales 1.800,000 34 Cost of Goods S 300,000 35 Operating Expens 900,000 36 Contribution Mar 600,000 37 Undistributed Ope 125,000 38 Income before Fix 475,000 39 Interest 220,000 40 Other Fixed Charc 162,000 41 Income before Ta 93,000 42 Income Tax 18,600 43 Net Income 74,400