For the 10 questions below, see the attached financial statements for ?Cline Custom Bikes.? All questions pertain to the year 2012 unless specifically mentioned.

1. What was the depreciation expense for 2012?

1. What are the current ratios for BOTH 2011 and 2012

1. Was the current ratio for 2012 better or worse compared to 2011? (A one word response please)

1. What was the inventory turnover ratio for 2012?

1. What was the average collection period for accounts receivable?

1. What is their marginal tax rate?

1. How many shares of common stock did they issue (sell) in 2012?

1. What are their earnings per share?

1. How much did they pay in preferred stock dividends in 2012?

1. What was the ?TIE? ratio?

Income Statement Cline Custom Bikes Income Statement ($000) For year ended December 31, 2012 Sales Revenue Less Cost of Goods Sold Gross Profit Less Operating Expense Selling Expense G&A Depreciation Total operating expenses Operating Profits Less Interest Expense Net Profit Before Tax Less Tax (30%) Net Profit After Tax $2,200 $1,420 $780 $300 $270 $30 $600 $180 $29 $151 $45 $106 Statement of Retained Earnings Retained Earnings balance (Jan 1, 2012) Plus: Net Profit After Tax (for 2012) Less Cash dividends on common $80 $106 ($76) Retained Earnings Balance (Dec 31, 2012) $110 Balance Sheet ($000) December 31st 2012 2011 Asset s Current Assets Cash Marketable Securities Accounts Receivable Inventory Total Current Assets Gross Fixed Assets Less accumulated depreciation Net Fixed Assets $30 $10 $320 $460 $820 $560 $180 $380 $50 $20 $350 $320 $740 $520 $150 $370 $1,200 $1,11 0 Current Liabilities Accounts payable Notes payable Accruals Total current liabilities Long-term Debt Total Liabilities $390 $110 $20 $520 $320 $840 $320 $90 $20 $430 $350 $780 Stockholders' Equity Common stock (500,000 shares, $0.20 par) Paid-in Capital in excess of par Retained earnings Total stockholders' equity $100 $150 $110 $360 $100 $150 $80 $330 $1,200 $1,11 0 Total Assets Liabilities & Stockholders' equity Total liabilities & stockholders' equity