Here is what I have to do:

Financial Ratios

Calculate the following financial ratios for 2017(unaudited) and 2016 (audited).Use Excel to perform your computations.Show the component parts making up the numerator and denominator of the ratios.(Appendix 4A)

Current ratio

Quick (acid test) ratio

Accounts receivable turnover - Accounts Rec Turnover

Inventory turnover

Asset turnover

Debt to total assets ratio

Profit margin

In calculating the ratios, you can find beginning balances for 2016 at Apollo Shoes under the Planning tab, under Company Background and 10-K.

Here is the 2015 Data:

in thousands (except per share data)

For the year ended, December 31,

2016

2015

Net Sales (Note 2)

$240,575

$236,299

Cost of Sales

$141,569

$120,880

Gross Profit

$99,006

$115,419

Selling, General and Administrative Expenses

$71,998

$61,949

Interest Expense (Note 7)

$875

0

Litigation Expense (Note 10)

($19,172)

0

Other Expense (Income)

($204)

($1,210)

Earnings from Continuing Operations Before Taxes

$7,165

$54,680

Income Tax Expense (Note 9)

$2,794

$21,634

Earnings from Continuing Operations

$4,371

$33,046

Discontinued Operations, Net of tax benefit

($31,301)

Net Income

$4,371

$1,745

Earnings Per Common Share

From Continuing Operations

$0.54

$4.08

Other

($0.00)

($3.86)

Net Income

$0.54

$0.22

Weighted shares of common stock outstanding

8,105

8,105

The accompanying notes are an integral part of the consolidated financial statements.

vi

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

APOLLO SHOES, INC.

in thousands

As of December 31

2016

2015

Assets

Cash

$3,245

$3,509

Accounts Receivable (Net of Allowances of $1,263 and 210, respectively) (Note 3)

15,148

2,738

Inventory (Note 4)

15,813

13,823

Prepaid Expenses

951

352

Current Assets

$35,157

$20,422

Property, Plant, and Equipment (Note 5)

1,174

300

Less Accumulated Depreciation

(164)

(31)

$1,010

$269

Investments (Note 6)

573

613

Other Assets (Note 6)

54

0

Total Assets

$36,794

$21,304

Liabilities and Shareholders' Equity

Accounts Payable and Accrued Expenses

$4,675

$3,556

Short-Term Liabilities (Note 7)

10,000

0

Current Liabilities

$14,675

3,556

Long-Term Debt (Note 7)

0

0

Total Liabilities

$14,675

3,556

Common Stock

8,105

8,105

Additional Paid-in Capital

7,423

7,743

Retained Earnings

6,591

1,900

Total Shareholders' Equity

$22,119

$17,748

Total Liabilities and Shareholders' Equity

$36,794

$21,304

The accompanying notes are an integral part of the consolidated financial statements.

vii

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY

APOLLO SHOES, INC.

in thousands

Shares

Par Value

($1 per share)

Additional Paid-in Capital

Retained

Earnings

Other

Total

Balance, December 31, 2014

2,873

$2,873

$2,122

$475

$0

$5,470

Net Income

$1,745

$1,745

Exercise of Stock Options

232

$232

$301

$533

Other

5,000

$5,000

$5,000

$10,000

Balance, December 31, 2015

8,105

$8,105

$7,423

$2,220

$0

$17,748

Net Income

$4,371

$4,371

Exercise of Stock Options

0

$0

$0

Other

$0

Balance, December 31, 2016

8,105

$8,105

$7,423

$6,591

$0

$22,119

The accompanying notes are an integral part of the consolidated financial statements.

viii

CONSOLIDATED STATEMENTS OF CASH FLOWS

APOLLO SHOES, INC.

in thousands

For the year ended December 31,

2016

2015

Cash Flows from Operating Activities

Net Income

$4,371

$1,745

Adjustments to Reconcile Net Income to Net Cash Provided

Depreciation and Amortization

$133

$26

Changes in Operating Assets and Liabilities

Decrease (Increase) in Current Assets

Accounts Receivable

($12,410)

($2,073)

Inventory

($1,990)

($11,861)

Prepaid Expenses

($599)

($123)

Increase (Decrease) in Current Liabilities

Accounts Payable and Accrued Expenses

$1,119

$5,504

Total Adjustments

($13,747)

($8,527)

Net Cash Provided by Operating Activities

($9,376)

($6,782)

Cash Flows from Investing Activities

Capital Expenditures

($834)

($255)

Purchase of Other Assets

($54)

Net Cash Provided by Investing Activities

($888)

($255)

Cash Flows from Financing Activities

Proceeds from the Issuance of Debt

$10,000

Proceeds from the Issuance of Common Stock

$10,533

Net Cash Provided by Financing Activities

$10,000

$10,533

Net Increase (Decrease) in Cash

($264)

$3,496

Cash at Beginning of Year

$3,509

$13

Cash at End of Year

$3,245

$3,509

The accompanying notes are an integral part of the consolidated financial statements.

Here is my 2016-2017 Income Statement

Year Ended 12/31/2016 Year Ended 12/31/2017 Sales 246,172,918.44 242,713,452.88 Cost of Goods Sold 141,569,221.61 130,196,645.26 Gross Profit 104,603,696.83 112,516,807.62 Sales Expenses Sales Returns 4,497,583.20 11,100,220.89 Warranty Expense 1,100,281.48 1,158,128.47 Freight 4,302,951.46 4,240,263.09 Advertising Expense 897,140.01 1,036,854.01 Auto Expenses 208,974.39 210,502.80 Research and Development 31,212,334.17 528,870.44 Depreciation Expense 133,000.00 446,000.00 Warehouse Salaries 4,633,383.82 4,720,715.56 Property Tax Expense 80,495.32 99,332.45 Legal and Professional Expense 3,605,133.96 4,913,224.45 Bad Debt Expense 1,622,425.99 Insurance Expense 853,942.65 36,106.92 Maintenance Expense 61,136.04 35,502.87 Utilities 135,642.99 137,332.18 Phone 76,373.78 52,599.02 Postal 128,033.21 77,803.61 Miscellaneous Office Expense 17,023.27 24,891.82 Payroll Tax Exp 1,550,989.06 1,577,811.85 Pension/Profit-Sharing Plan Ex 3,000,000.00 3,300,000.00 Rent or Lease Expense 2,603,485.87 1,206,574.00 Administrative Wages Expense 16,875,305.98 16,197,225.43 Total Sales Expenses 77,595,636.65 51,099,959.86 Net Income From Operations 27,008,060.18 61,416,847.76 Income from Investments 1,426,089.31 Interest Income 204,302.81 131,881.46 Miscellaneous Income 2,166,000.00 Interest Expense 875,000.00 2,591,736.50 Loss on Legal Settlement 19,172,000.00 Net Income Before Taxes 7,165,362.99 62,549,082.03 Income Tax Expense - Federal 2,365,000.00 8,900,000.00 Income Tax Expense - State 429,000.00 3,100,000.00 Net Income 4,371,362.99 50,549,082.03

Here is my 2016-17 Balance Sheet

Year Ended 12/31/2016 Year Ended 12/31/2017 Retained Earnings (12/31/2015) 2,219,620.65 6,590,983.64 Net Income 4,371,362.99 50,549,082.03 Retained Earnings (12/31/2016) $6,590,983.64 $57,140,065.67 Assets Cash on Hand 1,987.28 2,275.23 Regular Checking Account 198,116.52 557,125.92 Payroll Checking Account 0.00 Savings Account 3,044,958.13 3,645,599.15 Accounts Receivable 16,410,902.71 51,515,259.98 Other Receivables 1,250,000.00 Allowance for Doubtful Accounts -1,262,819.88 (1,239,009.75) Inventory - Spotlight 18,825,205.24 67,724,527.50 Reserve for Inventory Obsolescence -3,012,000.00 (846,000.00) Prepaid Insurance 743,314.38 3,424,213.78 Prepaid Rent 200,000.00 Office Supplies 7,406.82 8,540.00 Notes Receivable-Current Other Current Assets Land 117,000.00 117,000.00 Buildings and Land Improvements 623,905.92 674,313.92 Machinery, Equipment, Office Furniture 433,217.10 2,929,097.13 Accum. Depreciation -163,500.00 (609,500.00) Investments 572,691.08 1,998,780.39 Other Noncurrent Assets 53,840.59 53,840.59 Total Assets 36,794,225.89 131,206,063.84 Liabilities & Stockholders' Equity Accounts Payable 4,633,118.09 1,922,095.91 Sales Tax Payable 0.00 Wages Payable 29,470.32 FICA Employee Withholding 1,318.69 8,439.65 Medicare Withholding 583.99 11,414.99 Federal Payroll Taxes Payable 6,033.01 118,086.12 FUTA Tax Payable State Payroll Taxes Payable 2,815.47 55,106.86 SUTA Tax Payable FICA Employer Withholding 1,318.69 8,439.65 Medicare Employer Withholding 583.99 11,414.99 Line of Credit 10,000,000.00 44,403,000.00 Current Portion Long-Term Debt Other Current Liabilities Notes Payable-Noncurrent 12,000,000.00 Common Stock 8,105,000.00 8,105,000.00 Paid-in Capital 7,423,000.00 7,423,000.00 Retained Earnings 6,590,983.64 57,140,065.67 Total Liabilities & Stockholders' Equity $36,794,225.89 $131,206,063.84

How do I calacuate for fiancial ratios with this information? I am extremely lost.