Ghoul Corporation's most recent balance sheet and income statement appear below: Year 1 Balance Sheet December 31, Year 2 and Year 1 Year 2 Assets Cash 320 Accounts Receivable 250 Inventory 140 Prepaid Insurance 20 Plant & Equipment, net 860 Total Assets 1,590 180 240 130 40 920 1,510 Liabilities & Stockholders' Equity Accounts Payable Wages Payable Notes Payable, short-term Bonds Payable Total Liabilities 240 40 40 210 530 170 80 60 220 530 Stockholders' Equity Common Stock $1 par value Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders's Equity 350 710 1,060 1,590 350 630 980 1,510 Income Statement For the Year Ended December 31, Year 2 Net Sales (all on account) Cost of Goods Sold Gross Margin Selling & Administrative Expense Net Operating Income Interest Expense Net Income Before Taxes Income Taxes (30%) Net Income Before Taxes ***** 1,220 790 430 268 162 26 136 41 95 Instructions: Answer each of the following questions by filling out the answer blanks below. There is one blank for each question. The answer for Question 1 goes in the first blank, for Question 2 in the second blank, and so on and so forth. Ensure that numerical responses are in comma format and are rounded to two decimals. For example: 1.50; 50.10; etc. Do not include symbols (i.e. $) or decimals in numerical answers, unless specifically told to do so. Other specific instructions might be present in the question, so make sure that you follow those as well if they are present. Failure to follow these instructions will result in answers being marked incorrect. While most answers will be numerical, some may be alphanumerical, meaning that you will include words and numbers. 13 Compute the following ratios/analyses for Year 2. 1. Working Capital 2. Current Ratio 3. Acid-Test (Quick) Ratio 4. Accounts Receivable Turnover 5. Days' Sales Uncollected 6. Days' Sales in Inventory 7. Total Asset Turnover 8. Debt-to-Equity Ratio 9. Profit Margin Ratio 13 10. Gross Margin Ratio 11. Trend Percent for Accounts Payable using Year 1 as the base year. (Answer as whole percentage including % symbol. Example: 100%) 12. Common-sized percent for Net Income. (Answer as whole percentage including % symbol. Example 100%)