Global Technology Comparative Income Statement For Years Ended December 31 2012 and 2011 Qet sales :ost ot merchandise sold Yoss profit Selling expenses 3eneraI expenses rotal operating expenses Jperating income Dtfner expenses (interest) ncome before income tax ncome tax qet income 2012 2,820.000 06.075 123.000 204.660 $491,415 36.000 $455,415 164.400 015 Global Technology Comparative Retained Earnings Statement For Years Ended December 31, 2012 and 2011 earnings, January 1 Qet income tor year :ommon stock dividends earnings, December 31 2012 SL,420.ogs 291 015 82.500 L 623 610 Global Technology Comparative Balance Sheet For Years Ended December 31, 2012 and 2011 Assets kccounts receivable vlercnandise inventory repaid expenses 'lant assets (net) rotal assets Liabilities & Stockholders' Equity kccounts payable 30nds payable, 10% due 2010 rotal liabilities Zommon stock Zvetained earnings rotal stockholders' equity rotal liabilities & stockholders' equity Answer Section tuidity ratios: Acid-test (quick) ratio Current ratio kctivity ratios: Accounts receivable turnover Inventory turnover rotitability ratios Gross profit ratio Net income to sales Rate earned on total assets Rate earned on common stock equity :overage ratios: Debt to total assets Times interest earned 2012 ,830 232,500 825,480 22,500 L, 800000 2 310 S326,400 360 ooo 600.300 1,628.610 2.228810 2 310 2011 3,300 ,330 2,550.000 127.500 88.500 216.000 $534,330 soo $514,830 293 925 2011 293 925 2011 S63.ooo 298,575 637,500 25,500 1.530000 2 554 575 $339,180 ooo $534 180 soozoo 2.020.3@5 2 554.575 RMJ ORMULA6 ORMULA7 RMULA ORMULAIO