Harrington Housewares Company Income Statement Tor the Year Ended lune 30, 20xx $1,197,132 5,720 $1,202,852 Revenues Net sales Interest income Total revenues Costs and expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Total costs and expenses Net income 5777,080 203,740 100,688 13,560 1,095,068 $ 107,784 07 Liquidity Raties income statement, and tell what insights can be obtained from the multistep form 28 opposed to the single-step form. ES The following accounts and balances are from the general ledger of Swan Company Cl Accounts Payable $ 49,800 94 Accounts Receivable 30,600 CA Cash: 9.9 4.500 C Current Portion of Long-Term Debt Long-Term Investments 30,000 qa 31.200 a Marketable Securities 37,800 Merchandise Inventory 26,200 C! Notes Payable, 90 days 45,000 Notes Payable, 2 years 60,000 CA Notes Receivable, 90 days 78,000 Notes Receivable, 2 years 30,000 CG Prepaid Insurance 1,200 Property, Plant, and Equipment 180,000 C Swan, Capital 84,900 Salaries Payable 2,550 ra Supplies 1,050 ci Property Taxes Payable 3,750 Unearned Revenue 2,250 Compute the (1) working capital and (2) current ratio. E 9. The following end-of-year amounts are from the financial statements of Laliberte Profitability Ratios Company: Total assets, $852,000; Total liabilities, $344,000; Owner's equity, $508,000, Net sales, $1,564,000; Cost of goods sold, 5972,000; Operating excpenses, 5404,000; and Withdrawals, $80,000. During the past year, total assets increased by $150,000. Total owner's equity was affected only by net income and withdrawals Compute (1) profit margin, (2) asset tumover, (3) return on assets, (4) debt to equity ratio, and (5) return on equity. E 10. A simplified balance sheet and income statement for a sole proprietorship appear at the Computation of Ratios top of the next page. Total assets and owner's equity at the beginning of 20sex were $360,000 and $280,000, respectively 1. Compute the following liquidity measures: (a) working capital and (b) current ratio. 2. Compute the following profitability measures: @ profit margin, (b) asset tumover, (c) return on assets, (d) debt to equity ratio, and (e) return on equity