first part, prepare common size income statement and balance sheet for the two years shown. part 2, calculate the following ratios for each year and indicate whether each ratio seems to have gotten worse or better from 2018 to 2019

Home Insert Page Layout Formulas Data Review View Calibri (Body) 11 A- A- 9. BWrap Text General Paste B I U- 0.A . * Verge Center $ %) Activate Office to Create and Edit Buy Office or sign in to activate Office you've already bought it. f A4 1 A B D E F G H 4 5 Below are the 2018 and 2019 Income Statements and Balance Sheets for Glacier Products, Inc. 6 7 GLACIER PRODUCTS, INC. 8 INCOME STATEMENT 9 (in millions of $) 10 2018 2019 11 Net sales 2,3812 2,567.2 12 Cost of goods sold 1,508.2 1,637.3 13 Selling general and administrative expenses 694.1 726.4 14 Operating profit (EBIT) 178.9 203.5 15 Interest expense 10.8 8.4 16 Earnings before tax 168.1 195.1 17 Income tax 39.4 34.6 18 Net earnings 128.7 160.5 19 20 GLACIER PRODUCTS, INC. 21 BALANCE SHEET 22 (in millions of $) 23 2018 2019 Shell + Ready 14 MacBook Pro esc BD DO 47 * lo # 3 $ 4 % 5 & 7. 1 2 6 8 3 W E R T Y lab . S D F H Quiz #2 (Unit 3)-09-20 Home Insert Page Layout Formulas Data Review View Calibri (Body) 11 9. Ja Wirap Text General - AA- - A BIU Merge Center $ % Activate Office to Create and Edit Buy Office or sign in to activate Office if you've already bought it xfx A4 E F G 1 H 2019 2018 212.5 219.3 162.4 51.2 645.4 834.1 1,479.5 168.0 252.3 184.2 56 8 661.3 908.0 1,569.3 B D 23 24 ASSETS 25 Cash and short-term investments 26 Accounts receivable 27 Inventories 28 Other current assets 29 Total current assets 30 Net fixed assets 31 Total assets 32 33 LIABILITIES AND STOCKHOLDERS' EQUITY 34 Accounts payable 35 Other current liabilities 36 Total current liabilities 37 Long-term debt 38 Total liabilities 39 Common stock & paid-in surplus 40 Retained earnings 41 Total equity 42 Total liabilities & stockholders' equity Sheet Ready 171.4 242.4 413.8 370.4 784.2 159.0 536.3 695.3 1.479,5 177.7 268.4 446.1 383.4 829.5 179.6 560.2 739.8 1.569.3 MacBook Pro * 30 * 17 # 3 $ 4 % 5 & 7 2 6 Q W E R Y tab Window Help Quiz #2 (Unit 3)-09-20 Home Insert Page Layout Formulas Data Review View Calibri (Bodyl 11 BIU- AA 9. Wrap Tout General Paste Merge & Center $ % Activate Office to Create and Edit Buy Office or sign in to activate cel you've already bought Conditional For Formatting a A4 H 1 B D E F G 43 44 45 1. (15 points): Prepare common-size Income Statements and Balance Sheets for the 46 two years shown. 47 48 2. (3 points each): Calculate the following ratios for each year, and indicate whether 49 each ratio seems to have gotten better or worse from 2018 to 2019 50 51 a. Current ratio 52 b. Inventory turnover 53 c. Days supply in inventory 54 d. Receivables turnover 55 e. Days sales in receivables 56 f. Total debt ratio 57 8. Times interest earned ratio 58 h. Profit margin (Return on sales) 59 i. Return on assets 60 1. Return on equity 61 + MacBook Pro 19 A * # 3 $ 4 & 7 7 % 5 2 6 8 9 Q W E R YU 0 "ab S D F G H J K lock