Financial statements for Larabee Company appear below: Larabee Company Income Statement December 31, Year 2 and Year 1 (dollars in thousands) Year 2 Year 1 $160 Current assets: Cash and marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Noncurrent assets: Plant & equipment, net Total assets $180 190 150 20 540 160 160 20 500 1,680 $2,220 1,640 $2,140 $110 50 60 220 $140 80 100 320 Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Noncurrent liabilities: Bonds payable Total liabilities Stockholders' equity Common stock, $10 par Additional paid-in capital--common stock Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 350 570 400 720 300 280 1,070 1,650 $2,220 300 280 840 1,420 $2,140 Larabee Company Income Statement For the Year Ended December 31, Year 2 (dollars in thousands) Enter your answer in the form of an essay. Stockholders' equity: Common stock, $10 par Additional paid-in capital--common stock Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 300 280 1,070 1.650 $2.220 300 280 840 1.420 $2,140 Larabee Company Income Statement For the Year Ended December 31, Year 2 (dollars in thousands) Sales (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $2.610 1.820 790 310 480 40 440 132 $308 Required: Calculate the following ratios for year 2: 1. Working Capital 2. Current Ratio 3. Accounts Receivable Turnover 4. Days' Sales in Inventory 5. Gross Profit Percentage 6. Debt to Equity Ratio 7. Rate of Return on Total Assets 8. Rate of Return on Common Stockholders' Equity B I s TK X x? Insert Formula Enter your answer in the form of an essay