Name: The comparative financial statements for The Rose Packing Corporation are below: THE ROSE PACKING CORPORATION Net sales Cost of goods sold Gross profit Operating expenses Income Statement Year Ended December 31 Profit from operations Interest expense Profit before income tax Income tax expense Profit 2014 2013 $624,000 405,600 - $790,000 avaage C - 540,000 715804 250,000/1400 218,400 153,880 149,760 96,120 68,640 9,920 7,200 86,200 61,440 12,930 9,216 -$ 73,270 $ 52,224 THE ROSE PACKING CORPORATION Additional Information: 1. All Sales were on Account. 2. The Allowance for Doubtful Accounts was $5,500 in 2014 and $4,500 in 2013. 3. In 2014, $23,620 of dividends were paid to the common shareholders. 4. Cash provided by operating activities was $116,780. 5. Cash used by investing activities was $51,660. Balance Sheet December 31 Assets Current assets. Cash Accounts receivable 2014 2013 -$ 49,380 $ 44,600 - 104,720 93,800 Inventory Total current assets 96,400 74,000 250,500 212,400 Property, plant, and equipment 465,300 459,600 Total assets $715,800 $672,000 Liabilities and Shareholders' Equity Current liabilities Accounts payable $164,850 $130,000 Income tax payable 2,500 4,000 Other payables and accruals 12,800 22,000 Total current liabilities 180,150 156,000 Bonds payable 90,000 120,000 Total liabilities 270,150 276,000 Shareholders' equity Common shares (15,000 issued) 150,000 150,000 295,650 246,000 Retained earnings Total shareholders' equity 445,650 396,000 Total liabilities and shareholders' equity $715,800 $672,000 To Do: Calculate the following liquidity, solvency and profitability ratios for 2014. Liquidity 1 MRT Working Capital 2 Current Ratio 3 Acid-Test Ratio 4 Receivables Turnover 5 Collection Period 6 Inventory Turnover 7 Days Sales in Inventory 8 Operating Cycle Solvency 9 Debt to Total Assets 10 Interest Coverage 11 Free Cash Flow Profitability 12 Gross Profit Margin 13 Profit Margin 14 Asset Turnover 15 Return on Assets 16 Return on Equity 17 Earnings per Share 18 Payout Ratio Name