Golden Corporation declared and paid $3,000 of cash dividends during the current year ended December 31. Its financial statements also reported the following summarized data Current Previous Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses Interest expense Income before income taxes Incame tax expense Net income Balance Sheet Cash Accounts receivable (net) Inventory Property and equipnent (net) $180, 000 110,000 70, 000 53, 300 2, 700 14, 000 4, 000 $165, 000 100, 000 65, 000 50, 400 2, 600 12, 000 3, 000 10,000 9,000 $ 4,000$8, 000 23, 000 35, 000 38, 000 108,000 104, 000 16, 000 19, 000 45, 000 30, 000 5, 000 5, 000 $108, 000 104, 000 19, 000 40, 000 45, 000 Current liabilities Note payable (long-term) Common stock (par $5) Additional paid-in capital Retained earnings 45, 000 30, 000 5, 000 12, 000 Required: 1. Compute the gross profit percentage for the current and previous years. Are the current year results better, or worse, than those for 2. Compute the net profit margin for the current and previous years. Are the current year results better, or worse, than those for the 3. Compute the earnings per share for the current and previous years. Are the current year results better, or worse, than those for the the previous year? previous year? previous year? TIP: To calculate EPS, use the balance in Common Stock to determine the number of shares outstanding. Common 4. Stockholders' equity totaled $30,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the 5. Net property and equipment totaled $35,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of 7. Compute the times interest earned ratios for the current and previous years. Are the current year results better, or worse, than those 8. After Golden released its current year's financial statements, the company's stock was trading at $30. After the release of its Stock equals the par value per share times the number of shares current and previous years. Are the current year results better, or worse, than those for the previous year? current and previous years. Are the current year results better, or worse, than those for the previous year? the company's asset growth? for the previous year? previous year's financial statements, the company's stock price was $21 per share. Compute the P/E ratios for both years. Does it appear that investors have become more (or less) optimistic about Golden's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 5-a. Net property and equipment totaled $35,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. (Round your answers to 2 decimal places.) 5-b. Are the current year results better, or worse, than those for the previous year? Fixed Asset Turnover 5-a Current Year 2.28 Previous Year 5-b. Current year fixed asset turnover is OBetter Worse Complete this question by entering your answers in the tabs below. Required 1 Required 2Required 3 Required 4 Required 5Required 6 Required 7 Required 8 6-a. Compute the debt-to-assets ratios for the current and previous years. (Round your answers to 2 decimal places.) 6-b. Is debt providing financing for a larger or smaller proportion of the company's asset growth? Debt-to- Assets 6-a Current Year Previous Year 1.77 1.63 6-b. Current year debt-to-assets ratio is: OLarger Proportion Smaller Proportion