Myopia Inc. COMPARATIVE BALANCE SHEET Total Expenses 70.000 Income before income taxes 31-Dec TIMES INTEREST EARNED 50,000 Assets 2019 2018 Income tax expense Cash 50,000 20,000 15.000 35.000 Net Income PROFIT MARGIN Short term Investments 40,000 10,000 ADDITIONAL INFORMATION Accounts Receivable, net 10,000 40,000 DAYS IN INVENTORY 100,000 80,000 Inventory Property, Plant & Equipment, Cash dividends declared and paid in 2019 15,000 Weighted average number of common shares outstanding during 2019 were 1,000 Market value of common stock on December 31, 2019 was $22 per share. net 600,000 500,000 DEBT TO TOTAL ASSETS Total Assets 800,000 650,000 INSTRUCTIONS: Using the financial statements and additional Information, compute the following ratios for 2019. Show all computations, Liabilities & Stockholders' Equity RETURN ON ASSETS YOU MAY USE THE RATIO SHEET PROVIDED FOR THIS PROBLEM. Accounts Payable 60,000 10,000 Short term notes payable 110,000 70,000 CURRENT RATIO Bonds Payable 260,000 240,000 Common Stock 220,000 200.000 RETURN ON COMMON STOCKHOLDERS' EQUITY Retained Earnings 130,000 150,000 800,000 Total Liabilities & Stockholders' Equity 650,000 wyopia TEME 21-19 INCOME STATEMENT For the Year Ended 12-31-19 PRICE EARNINGS RATIO Net Sales 300,000 Cost of Goods Sold 180.000 ACID TEST RATIO Gross Profit 120.000 Expenses Operating Expenses Interest Expense $ RECEVIABLES TURNOVER 60,000 10,000