Financial information for Ernie Bishop Company is presented below. ERNIE BISHOP COMPANY Statements of Financial Position December 31 Assets 2016 Land 157,300 Building and equipment (net) 203,280 Prepaid expenses 35,090 Inventory 151,250 Receivables (net) 118,580 Short-term investments 62,920 84,700 813,120 Equity and Liabilities Share capital-ordinary, 10 par 242,000 Retained earnings 157,300 Bonds payable, due 2016 181,500 Notes payable 121,000 Accounts payable 58,080 Accrued liabilities 53,240 813,120 2015 157,300 211,750 27,830 163,350 96,800 48,400 78,650 784,080 242,000 181,500 121,000 50,820 48,400 784,080 ERNIE BISHOP COMPANY Income Statement For the Years Ended December 31 2016 Net sales 1,038,180 Cost of goods sold 739,310 Gross profit 298,870 Operating expenses 247,445 Net income 51,425 2015 965,580 695,750 269,830 219,010 50,820 Additional information: 1. 2. 3. 4. 5. Inventory at the beginning of 2015 was 142,780. Total assets at the beginning of 2015 were 764,720. No ordinary shares transactions occurred during 2015 or 2016. All sales were on account. Receivables (net) at the beginning of 2015 were 106,480. 6 Nenis payable are dessified as a current lobicy. Calculate the liquidity and profitability to denie Bishop Company from 2015 to 2016. (Round Earnings pershore to decimal placess. 1.55, and all others to decinal place of 68688.) 2016 LIQUIDITY Current lo Ac celestintorer Inventory unver PROFITABILITY Pro Autover Anna Enings persone Gven below at the dependent Suites and artist may be feed for each stal, completed (1) 2017 60.500. Totales on December 31, 2017, we (807 000. Round ruties to decimal place, 4, 680689) December 31, 2016, ad (2) December 31, 2017, afeging effect to the state. It one for Situation Ratio (0) 21,780 ordury stores were sold porony 1, 2017. They were to vidends in 2017 Return on oday shartholders' out 21 Al of the notes peable were pad in 2017. The only change in labities was that the notes payable were pad. Det to totalsts 0) Market price of ordinary sess on December 31, 2016, and 15.13 on December 31, 2017 Pric-taning rate Return on array storeholders equity Debt to totales Pricemings to Question Attempts:0 dlused