K H Critterz Veterinary Supply Co. Ratios (14 points) 12/31/2023 12/31/2022 Current ratio Acid test ratio Inventory Turnover Days in Inventory Debt ratio Gross Profit Percentage Return on Common Stockholders Equity 1 Critterz Veterinary Supply Co. 2 Income Statements 3 For years ending 4 12/31/2023 12/31/2022 12/31/2021 5 6 Sales (all credit sales) $ 302,600 $ 322,900 $ 335,200 7 Cost of goods sold 174,500 182,000 191,000 -8 Gross profit $ 128,100 $ 140,900 $ 144,200 59 General and administrative expenses 29,200 28,600 30,200 20 Operating income 98,900 $ 112,300 $ 114,000 11 Interest expense 2,200 2,100 1,800 42 Income before taxes $ 96,700 $ 110,200 $ 112,200 43 Tax expense 18,300 22,300 21,000 44 Net income $ 78,400 $ 87,900 $ 91,200 45 19 Liabilities and Equity 20 Liabilities 21 Accounts payable $ 45,600 $ 36,500 $ 31,200 22 Long-term loans payable 50,000 48,000 45,000 23 Total liabilities 95,600 84,500 76,200 24 Equity 25 Preferred stock, 2% 4,000 4,000 4,000 26 Common stock 6,000 5,000 5,000 27 Retained earnings 239,000 168,600 88,700 28 Total equity 245,000 173,600 93,700 29 Total liabilities and equity $ 340,600 $ 258,100 $ 169,900 30 31 Critterz Veterinary Supply Co. 32 Income Statements mm 1 Data to be used to complete Requirements: 2 Critterz Veterinary Supply Co. 3 Balance Sheets 4 As of December 31, 2023, 2022, and 2021 5 6 12/31/2023 12/31/2022 12/31/2021 7 Assets 8 Cash $ 13,800 $ 12,200 $ 10,100 9 Accounts receivable 36,800 31,400 28,200 10 Inventory 13,400 11,000 8,000 11 Prepaid expenses 9,000 7,000 6,000 12 Total current assets 73,000 61,600 52,300 13 Property, plant & equip, net 251,700 185,000 107,100 14 Intangible assets 3,500 2,000 2,000 15 Other long-term assets 12,400 9,500 8,500 16 Total long-term assets 267,600 196,500 117,600 17 Total assets $ 340,600 $ 258,100 $ 169,900 8