Kisselburg Corporation Balance Sheet At December 31, Year 2 and Year 1 Kisselburg Corporation Income Statement For the Year Ended Dec 31 (Year 2) Assets: Year 2: Year 1: 98,000Cost of Goods Sold Sales Cash Marketable Securities Accounts Receivable Inventory Prepaid Expenses Plant and Equipment, Net Total Assets: $ 1,360,000 $ 800,000 $ 482,080 21,000 S 19922 105,000 $ 22,000 $ 34,000 Operating Expenses $ 103,000 115,000 Interest Expense 152,000 $ 107,000 $41,000 53,000 667,000 Income Tax Expense (35%) 846,000 $ S 1,269,000 $1,074,000 Liabilities: Additional Data: Accounts Payable Accrued Liabilities Notes Payable, Short-term $ 118,000 120,000 a) During Year 2, dividends on common $ 60,00062,000 stock totaled $4,000. 13,000 b) The market price of common stock at 185,000 the end of Year 2 was $5.75 per share. 64,000 s251,000 73,000 e, Long-term 114,000 c) All sales are on account. Bonds Payable Total Liabilities: $566,000 494,000 Stockholders' Equity: Common Stock, $2 par value180,000 APIC- Common Stock Retained Earnings 140,000 $ 50,000 40,000 473,000 $ 400,000 Total Stockholders' Equity: 703,000 $ 580,000 Total Liabilities & Equity: 1,269,000 $ 1,074,000 Required: Analyze the above financial statements using Ratio Analysis for Year 2 Fill in the calculation box with the answer from each ratio. Fill in the explanation box with the meaning of the calculated ratio Fill in the comparison box with how the company compares to its competitor (is it better or worse?) . . Current Ratio: (Competitor 1.50) Calculation: a. tion: b. Quick Ratio: (Competitor 1.00) Calculation: Explanation Comparison