Enably ctorio.com/secured#lockdown Enabled: MH Lab 1: Ratio Analysis i Saved Help The financial statements for Armstrong and Blair companies for the current year are summarized below: Armstrong Blair Company Company Statement of Financial Position Cash $ 35, 800 $ 33, 000 Accounts receivable (net) 32, 000 45,000 Inventory 210, 000 36 , 500 Property, plant, and equipment (net) 172, 500 475, 000 Other non-current assets 96, 000 330, 000 Total assets $ 546, 300 $ 919, 500 Current liabilities $ 127, 500 42 , 500 Long-term debt (108) 91, 500 84, 000 Share capital 182 , 500 575,000 Contributed surplus 52,000 131, 000 Retained earnings 92 , 800 87 ,000 Total liabilities and shareholders' equity $ 546, 300 $ 919, 500 Statement of Earnings Sales revenue (1/3 on credit) $ 560,000 $ 920, 000 Cost of sales (308, 000) (460, 000) Expenses (including interest and income tax) (190, 400) (349, 600) Net earnings $ 61,600 $ 110, 400 Selected data from the financial statements for the previous year follows: Accounts receivable (net) $31, 000 $ 51,000 Inventory 81, 000 26, 000 Long-term debt 91, 500 84, 000 Other data: Share price year-end 18 15 Income tax rate 308 308 Dividends declared and paid $47, 000 $260, 000 Shares outstanding 15 , 000 50, 000 The companies are in the same line of business and are direct competitors in a large metropolitan area. Both have been in business approximately ten years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blair MacBook Air 80 Q DII DD A F2 F3 FA ES F6 F7 FB 69 F10 $ % & 4 5 18 9 Og Enably octorio.com/secured#lockdown Enabled: MH Lab 1: Ratio Analysis i Saved Help Sav The companies are in the same line of business and are direct competitors in a large metropolitan area. Both have been in business approximately ten years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blair Company is more conservative, and as its president said, "We avoid what we consider to be undue risk." Neither company is publicly held. Armstrong Company has an annual audit by an independent auditor, but Blair Company does not. Required: 1. Complete a schedule that reflects a ratio analysis of each company. Use ending balances if average balances are not available. (Round intermediate calculations and final answers to 2 decimal places.) HINT: To calculate Current Ratio, you will need to first calculate the total Current Assets. Ratio Armstrong Company Blair Company Profitability ratios." Return on equity % % Return on assets % % Gross profit percentage % % Asset turnover ratios: Fixed asset turnover times times Receivables turnover times times Inventory turnover times times Liquidity ratios: Current ratio Debt-to-equity ratio Market tests: Price/earnings ratio 2. This part of the question is not part of your Connect assignment. MacBook Air 4 DII DD A 80 G FA F6 F7 FB F9 F10 FZ F3 & @ 5 6 8 9 4