Morgan LTD Comparative Statement of Financial Position 31 December 2018 Assets 2018 2017 Cash $ 25,000 $ 40,000 Marketable securities 15,000 60,000 Accounts receivable (net) 50,000 30,000 Inventory 150,000 170,000 Property, plant and equipment (net) 160,000 200,000 Total assets $400,000 $500,000 Liabilities and equity $ 20,000 $ 30,000 40,000 90,000 Accounts payable Short-term notes payable. Bonds payable Ordinary shares Retained earnings Total liabilities and equity............ 80,000 160,000 170,000 145,000 90,000 75,000 $400,000 $500,000 Morgan LTD Income Statement Income Statement For the Year Ended 31 December 2018 Net sales $360,000 Cost of sales 184,000 Gross profit Expenses 176,000 Interest expense $24,000 Selling expenses Administrative expenses 30,000 20.000 Total expenses 74.000 Profit before income taxes 102,000 Income tax expense 30,000 Profit $ 72,000 Additional information: a. Cash dividends of $57,000 were declared and paid in 2018. b. Weighted average number of shares of ordinary shares outstanding during 2018 was 60,000 shares Market value of ordinary shares on 31 December 2018 was $18 per share. d. Net cash provided by operating activities for 2018 was $63,000 C. D Time left 0:48:16 Additional Information: a. Cash dividends of $57,000 were declared and paid in 2018. b. Weighted average number of shares of ordinary shares outstanding during 2018 was 60,000 shares Market value of ordinary shares on 31 December 2018 was $18 per share, Net cash provided by operating activities for 2018 was $63,000 C d. Required Using the financial statements and additional information, compute the following ratios for Morgan ttd for 2018. Show all workings. 1. Current ratio 2. Return on ordinary shareholders' equity 3. Price-earnings ratio 4. Acid-test/Quick ratio 5. Receivables turnover I W @ A TATT Pex R! 15