2. From the Balance Sheet and Income Statement Information below, calculate the following ratios:
3. Return on Sales
4. Current Ratio
5. Inventory Turnover - If there are no beginning inventory or ending inventory figures, then use the Merchandise Inventory figure.
9. XYZ INC.
10. Income Statement
11. Year Ended December 31, 2018
13. Net Sales Revenue
15. $23,680
17. Cost of Goods Sold
19. 8,375
21. Gross Profit
23. 15,305
25. Operating Expenses
27. 7,925
29. Operating Income
31. 7,380
33. Interest Expense
35. 255
37. Income Before Taxes
39. 7,125
41. Income Tax Expense
43. 2,740
45. Net Income
47. $4,385
52. XYZ INC.
53. Balance Sheet
54. December 31, 2018
56. Assets
58. Current Assets
61. Cash
63. $2,094
64. Accounts Receivable
66. 1,611
67. Merchandise Inventory
69. 1,060
70. Prepaid Expenses
72. 2,120
73. Total Current Assets
75. 6,885
76. Long-Term Assets
78. 15,737
79. Total Assets
81. $22,622
83. Liabilities
84. Current Liabilities
86. $8,467
87. Long-Term Liabilities
89. 3,792
90. Total Liabilities
92. 12,259
94. Stockholders' Equity
95. Common Stock
97. 4,363
98. Retained Earnings
100. 6,000
101. Total Stockholders' Equity
103. 10,363
104. Total Liabilities & Stockholders' Equity
106. $22,622
107. NOTES:1- Round up
108. 2- Your responses should be in the following formats
109. a. XX%
110. b. x.xx
111. c. x.xx