Income Statement For the Year Ended 11/30/2020 REVENUES AND GAINS: Sales Gain on sale of Assets $200 7 $207 EXPENSES AND LOSSES: Cost of Goods Sold Depreciation Insurance Salaries $57 12 16 53 24 Rent Tax Interest 15 5 $182 $25 Net Income Autumn Leaves, Inc Balance Sheets As of November 30, 2020 and 2019 11/30/2020 11/30/2019 $46 20 $53 30 17 21 4 7 ASSETS: Cash Accounts Receivable Inventories Prepaid Insurance Prepaid Rent Long-term Investments Plant Assets Accumulated Depr.--P.A. TOTAL ASSETS 3 2 46 51 84 62 -28 -30 $192 $196 13 2 3 8 LIABILITIES AND OWNERS' EQUITY Accounts Payable Salaries Payable Dividends Payable Bonds Payable Common Stock (Par value of $4.00) Retained Earnings 2 24 43 55 40 40 73 85 196 192 Additional Information 1. New plant Assets were purchased for for $39 cash. 2. There were plant assets purchased for cash- CALCULATE THE AMOUNT!--BIG HINT is that a journal entry for the sale really helps!!!! And use "T" accounts!! 3. Market price of stock at 11/30/2020 is $20. Instructions: A. Prepare a Statement of Cash Flows (using the indirect method to present the operatiing activities). C. Prepare the following ratios (for the most recent year). a. Working Capital b. Current ratio c. Inventory turnover d. Days in Inventory e. Accounts Receivable Turnover f. Average Collection Period g. Debt to Assets h. Times interest earned i. Free Cash Flow j. Earnings per share k. Pricelearnings ratio I. Gross Profit Rate m. Profit Margin n. Return on Assets o. Payout ratio p. Return on Common Stockholders' equity