Lusha Salon Balance Sheet As at July 31 2022 2021 ASSETS Current Assets Cash $167.980 $53,900 Accounts Receivable $21,500 $11,000 Merchandise Inventory $24,700 $29,200 Total Current Assets $214,180 $94,100 Property, Plant & Equipment $127,000 $173,000 Less: Accumulated Depreciation $-27,800 $-22,600 TOTAL ASSETS $313,380 $244,500 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Bank Loan-Current Portion Total Current Liabilities Bank Loan-Long-Term Portion $32.400 $39,700 $6,900 $6,900 $39,300 $45,600 $88,000 $54,000 TAILANTIC Less: Accumulated Depreciation $-27,800 $-22,600 TOTAL ASSETS $313,380 $244,500 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable $32,400 $39,700 Bank Loan-Current Portion $6,900 $6,900 Total Current Liabilities $39,300 $46,600 Bank Loan-Long-Term Portion $88,000 $54,000 TOTAL LIABILITIES $127.300 $100,600 Shareholders' Equity Share Capital $83,000 $52,000 Retained Earnings $108,080 $91,900 TOTAL SHAREHOLDERS' EQUITY $186,080 $149,900 TOTAL LIABILITIES AND EQUITY 5313,380 $244,500 Lusha Salon Income Statement For the Year Ended July 31, 2022 Lusha Salon Income Statement For the Year Ended July 31, 2022 Sales $124,000 COGS $86,900 Gross Profit $37,100 Operating Expenses Utility Expense $1,480 Rent Expense $5,530 Salaries Expense 55,600 Telephone Expense $650 interest Expense $1440 Depreciation Expense 55.200 Total Operating Expenses $19.900 Operating profit Belone Tax 517200 come Tax E $60 Net Profit 51 D Complete the following ratio analysis. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the working capital for 2022. Working Capital: b) Calculate the net profit margin for 2022. Net Profit Margin: % c) Calculate the asset turnover ratio for 2022. Asset turnover: times d) Calculate the current ratio for 2022. Current Ratio: e) Calculate the debt to equity ratio for 2022. Debt to Equity Ratio