(Financial statement analysis) Using the following financial statements for Pamplin, Inc: :: a. Compute the following ratios for both 2012 and 2013 using the financial statements above: b. Compare Pamplin's financial ratios to the industry norms listed above and assess each of the following attributes of the firm's financial condition: liquidity, capital structure, asset management efficiency, and profitability. i Data Table 2012 Pamplin, Inc. Balance Sheets Assets Cash Accounts receivable Inventories Current assets Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets $195 449 546 $1,190 2,230 (960) $1,270 $2,460 2013 $148 427 629 $1,204 2,580 (1,150) $1,430 $2,634 2012 2013 $197 0 Liabilities and Owners' Equity Accounts payable Notes payable current (9% interest) Current liabilities Bonds (8.33% interest) Owners' equity Common stock Paid-in capital $152 154 $306 $599 $197 $599 $300 596 $300 596 Retained earnings Common equity Total liabilities and owners' equity 768 $1,664 $2,460 833 $1,729 $2,634 2013 Pamplin, Inc. Income Statements Sales (all credit) Cost of goods sold Gross profit Operating expenses (cash) Depreciation Total operating expenses Net operating income Interest expense Earnings before taxes Income taxes (40%) Net income 2012 $1,205 (697) $508 $(28) (215) $(243) $265 (45) $220 (88) $132 $1,453 (852) $601 $(41) (201) $(242) $359 (63) $296 (118) $178 Print Done a. Compute the following ratios for both 2012 and 2013 using the financial statements above A Data Table . Current ratio Acid-test (quick) ratio Inventory turnover Average collection period Debt ratio Times interest earned Total asset turnover Fixed asset turnover Operating profit margin Return on equity Industry Norm 5.00 3.00 2.20 90.0 33.0% 7.00 0.75 1.00 20.0% 9.0% Print Print Done Done