I JUST NEED THE RATIO ANALYSIS AND WRITE UP AT THE END

C D $ 810,000 460,000 350,000 . B 1 Merry Time Lighting 2. Income Statement 3 For the Year Ended December 31, 2021 4 Net Sales Revenue 5 Cost of Goods Sold 6 Gross Profit 7 Operating Expenses: 8 Salaries and Wages Expense 100,000 9 Depreciation Expense 20,000 10 Other Operating Expenses 120,000 11 Total Operating Expenses 12 Operating Income 13. Other Revenues and Expenses: 14 Loss on Asset Disposition (12,000) 15 Interest Expense (12,000) 16 Dividend Revenue 2,000 17 Total Other Revenues and Expenses 18 Income Before Income Taxes 19 Income Tax Expense 20 Net Income 21 22 240,000 110,000 (22,000) 88,000 28,000 $ 60,000 22 E20 D E E A B C 1 Merry Time Lighting 2. Income Statement 3 For the Year Ended December 31, 2021 4 Net Sales Revenue $ 810,000 5 Cost of Goods Sold 460,000 6. Gross Profit 350,000 7 Operating Expenses: 8 Salaries and Wages Expense 100,000 9 Depreciation Expense 20,000 10 Other Operating Expenses 120,000 11 Total Operating Expenses 240,000 12 Operating Income 110,000 13 Other Revenues and Expenses: 14 Loss on Asset Disposition (12,000) 15 Interest Expense (12,000) 16 Dividend Revenue 2,000 17 Total Other Revenues and Expenses (22,000) 18 Income Before Income Taxes 88,000 19 Income Tax Expense 28,000 20 Net Income $ 60,000 21 D - A B Merry Time Lighting 2 Comparative Balance Sheet 3 December 31, 2021 4. Assets 5 2021 2020 6 Current Assets: 7 Cash $ 90,000 $ 40,000 8 Accounts Receivable 20,000 34,000 9 Merchandise Inventory 54,000 50,000 10 Total Current Assets 164,000 124,000 11 Noncurrent Assets: Equity Investments 50,000 13 P,P,&E 260,000 200,000 14 Acc. Dep.-P.P,&E ** (60,000) (40,000) 15 Total Noncurrent Assets 250,000 160,000 16 Total Assets $ 414,000 $ 284,000 17 Liabilities 18 Current Liabilities: 19 Accounts Payable $ 50,000 $ 34,000 20 Accrued Liabilities 25,000 26,000 21 Total Current Liabilities 75,000 60,000 22 Long-term Debt: 23 Notes Payable 100,000 40,000 12 A B D 19 Accounts Payable $ 50,000 $ 34,000 20 Accrued Liabilities 25,000 26,000 21 Total Current Liabilities 75,000 60,000 22 Long-term Debt: 23 Notes Payable 100,000 40,000 24 Total Liabilities 175,000 100,000 25 Stockholders' Equity 26 Common Stock-No Par 201,000 168,000 27 Retained Earnings 44,000 24,000 28 Treasury Stock (6,000) (8,000) 29 Total Stockholders' Equity 239,000 184,000 Total Liabilities & S.E. $ 414,000 $ 284,000 31 30 22 During the period, Merry Time Lighting disposed of property, plant, equipment. Merry Time simply discarded these assets by placing them in the dumpster and thusly did not receive any cash for their disposition. These assets had a book value of $12,000 at the time of their disposition and Merry Time recorded a loss on their disposal. Merry Time did not make any payments on outstanding notes payable during the period but they signed a new note to obtain financing. Merry Time Lighting sold some of their existing shares in treasury during the period and did so at the exact same price they paid to purchase them. Merry Time Lighting also paid cash dividends to its common shareholders during the period. Use the templates below to determine the amount of cash Merry Time Lighting paid to acquire P, P, & E during the period and the amount of cash the firm transferred to shareholders in the form of dividends. The amounts reported on the statement of cash flows regarding the increase in notes payable, the decrease in treasury stock, the issuance of common stock, and the payment for equity investments should simply be for the difference in these accounts reported on the company's comparative balance sheet. 2 Cash Paid for Plant Asset Acquisition Beginning Balance of P.P&E $ 200,000 5 Less: Book Value of Disposed P.P&E 12,000 Book Value of Beginning Assets still in Service 188,000 7 Ending Balance of P, P, &E 260,000 1 4 8 2 3 Cash Paid for Plant Asset Acquisition 4 Beginning Balance of P.P,&E $ 5 Less: Book Value of Disposed P,P,&E 6 Book Value of Beginning Assets still in Service 7. 200,000 un 12,000 188,000 260,000 188,000 72,000 8 Ending Balance of P.P. &E 9 Less: Book Value of Beginning P.P, & E Still in Service 10 Cash Paid to Acquire Plant Assets $ 11 12 Cash Paid for Dividend Payments 13 Beginning Retained Earnings $ 14 Add: Net Income 24,000 60,000 84,000 40,000 15 $ 16 Less: Cash Dividends Paid 17 Ending Retained Earnings 18 19 44,000 60,000 Merry Time Lighting 2. Statement of Cash Flows 3 Year Ended December 31, 2021 4 Cash Flows from Operating Activities: 5 net income 16 Adjustments: 7 Net Cash Provided by Operating Activities 8. depreciation 9 loss on asset disposition 10 decrease in accounts receivable 11 increase in inventory 12 increase accounts payable 13 decrease in accured liabilities 14 Net Cash Provided by Operating Activities 15 cash flows from investing activities -16 purchase of equity investment 17 purchase of property, plant and equipment 18 net cash used by investing activities 19 20,000 12,000 14,000 (4,000) 16,000 -1,000 $ 57,000 117,000 (50,000) -72,000 -122,000 CAAAA B c D 19 60,000 33,000 2,000 -40,000 20 issue of notes payable 21 issue of common stock 22 sale of treasury stock 23 payment of dividend 24 net cash prvided by financing activities 25 net increase in cash & its equivalents 26 Cash Balance, 12-31-20 27 Cash Balance, 12-31-21 28 $ 55,000 50,000 40,000 90,000 $ 4 Using the information provided for obtained) on the previous financial statements, compute the following financial ratios for Merry Time Lighting Information which is necessary for these calculations but not found on the firm's financial statements has been 1 provided for you below 2 Accounts Receivable Balance, End of 2019 $ 36,000 3 Inventory Balance, End of 2019 47,000 Market Price Per Share, End of 2021 10.00 5 Weighted Average Shares Outstanding 2021 30,000 6 Preferred Dividends, 2021 2 Sales Revenue, 2020 790,000 Cost of Goods Sold, 2020 444,000 Cash Ratio Merry Time Lachine Meny Time Lishon Pachorage Formula Recreace Table 10 2091 20.20 2022 Cash Ratio - Cash/Total Current Liabilities 11 0.80 Current Ratio - Total Current Assets/Total Current 12 Current Ratio Liabilities Merry Time Lachaine Meny Time Lacha Industrie AR Tumar Ratio - Sales Revenue / Current A/R Prior A/R/21 13 2021 2021 Das Salca in Recenablea-865 AR Turnover Rabo 14 2.30 Imetoy Tumor Ratio - COGS (Current 15 Accounts Receivable Turnover Ratio Inventory. Prior Inventory/2) Mrr Time Lightinu Merry Time Lichtung Industry Average Das Salci in lactos 865Inventory Turnover 2021 990 9091 Ratio 3 9 2020 16 Inenme Statement Balance Sheet Formulas Statement of CF Writeup Ratio Analysis Merry Time Lighting Merry Time Lighting 2021 2020 6 7 Industry Average 2021 18.18 18 Days Sales in Receivables Merry Time Lighting Merry Time Lighting 2021 2020 Daya Salcs in Inventory - 365/ Inventory Turnover Ratio Debt Ratio - Total Liabilities/Total Assets Debt to Equity Ratio - Total Liabilities/Total Equity Gross Profit Percentage - Gross Profit Sales Revenue Profit Marpin Ratio - Net Income Sales Revenue Earnings Per Share Net Income Preferred Dividenda)/Weighted Average Shares Outstanding Price to Earnings Ratio - Market Price of Common Stock/Earnings per Share Industry Average 2021 20.08 Inventory Turnover Ratio Merry Time Licham Merry Time Lichong 2021 2020 Industry Average 2021 14.29 Days Sales In Inventory Merry Time Lighting Merry Time Lighting 2021 2020 . Industy Average 2021 25.54 Debt Ratio Meny Time Lighting Mem. Time Lighting 2021 2020 Industry Average 2022 0.70 Debt to Equity Ratio Merry Time Lighting Merry Time Luchong 2094 2190 Industry Asetage 9021 1.10 31 32 A B very Time Lignang merry Time Ligung 2021 2020 maus y average 2021 1.10 31 32 33 34 35 36 37 38 39 Gross Profit Percentage Merry Time Lighting Industry Average 2021 2021 0.35 Profit Margin Ratio Merry Time Lighting Industry Average 2021 2021 0.09 Earnings per Share Merry Time Lighting Industry Average 2021 2021 2.75 Price to Earnings Ratio Merry Time Lighting Industry Average 2021 2021 4.50 40 41 42 43 44 45 B In the space below express your thoughts on Merry Time Lighting's current financial position. Discussion should focus on how the company's financial ratios compare to their previous ratios as well as the industry average 1