Forecasted Balance Sheet as of December 31, 2020 Cash $ 72,000 Accounts receivables $ 639,000 Accounts and notes payable $ 432,000 Inventories $ 994,000 Accruals $ 170,000 Total current assets $1,705,000 Total current liabilities $ 602,000 Land and building $ 338,000 Long-term debt $ 604,290 Machinery $ 132,000 Common stock $ 775,000 Other fixed assets $ 61,000 Retained earnings $ 254,710 Total assets $2,236,000 Total liabilities and equity $2,236,000 Forecasted Income Statement for 2020 Sales $6,390,000 Cost of goods sold $5,580,000 Per-Share Data Gross operating profit $ 810,000 EPS $ General admin & selling expenses $ 236,320 DPS $ Depreciation $ 159,000 P/E Ratio Misc. Expenses $ 34,000 Market price $ 50.00 Earnings before Taxes $ 380,680 Number of shares outstanding 20,000 Taxes $ 126,306 Net Income $ 254,374 King, Inc. Financial Ratios Quick Ratio Current Ratio Inventory Turnover Days Sales Outstanding Fixed Asset Turnover Total Asset Turnover Return on Assets Return on Equity Debt/Equity Ratio Profit Margin on Sales P/E Ratio