Need calculations for the ratio analysis please for 2016 and 2017 Peyton Approved Ratio Analysis 2017 2016 Current Ratio (Working Capital) Quick Ratio A/R Turnover Inventory Turnover Gross Margin Return on Sales Return on Equity Return on Assets for Year Ended 12/31/2016 Bakery Sales 214,256.48 Merchandise Sales 770.76 Total Revenues 215,027.24 Cost of Goods Sold - Baked 73,159.59 Cost of Goods Sold - Merchandise 549.64 Total Cost of Goods Sold 73,709.23 Gross Profit 141,318.01 Operating Expenses: Rent Expense 15,694.23 Wages Expense 6,821.76 Misc. Supplies Expense 1,668.18 Business License Expense 1,307.85 Misc. Expense 871.9 Depreciation Expense 433.36 Insurance Expense 697.52 Advertising Expense 740.74 Interest Expense 523.14 Telephone Expense 313.88 Total Operating Expenses: 29,072.56 Net Income 112,245.45 Balance sheet As of December 31, 2016 Current Assets: Current Liabilities: Cash 43,165.39 Accounts Payable 16,970.00 Accounts Receivable 42,633.00 Wages Payable 1,532.80 Baking Supplies 7,318.86 Interest Payable 166.50 Merchandise Inventory 794.97 Prepaid Rent 1,665.00 Prepaid Insurance 1,110.00 Misc. Supplies 55.50 Total Current Assets 96,742.72 Total Current Liabilities 18,669.30 Long Term Liabilities: Long Term/Fixed Assets: Notes Payable 15,000.00 Baking Equipment 8,000.00 Total Long Term Liabilities: 15,000.00 Accumulated Depreciation -928.58 Net Fixed assets 7,071.42 Total Liabilities: 33,669.30 Common Stock 20,000.00 Retained Earnings 50,144.84 Total Equity 70,144.84 Total Assets: 103,814.14 Total Liabilities & Equity 103,814.14 Revised Peyton Approved Income Statement Dec-17 Bakery Sales $ 327,322.55 Merchandise Sales 1,205.64 Total Revenues 328,528.19 Cost of Goods Sold - Baked 105,834.29 Cost of Goods Sold - Merchandise 859.77 Total Cost of Goods Sold 106,694.06 Gross Profit 221,834.13 Operating Expenses: Rent Expense 24,549.19 Wages Expense 10,670.72 Misc. Supplies Expense 3,000.46 Business License Expense 2,045.77 Misc. Expense 1,363.84 Depreciation Expense 677.86 Insurance Expense 1,091.08 Advertising Expense 1,549.74 Interest Expense 818.31 Telephone Expense 490.98 Gain/Loss on Disposable Equipment 100.00 Total Operating Expenses: 46,357.95 Net Income 175,476.18 2017 Assets Current Assets: Cash $68,520.04 Accounts Receivable 68,519.91 Other Receivable - Insurance 700.00 Baking Supplies 18,681.70 Merchandise Inventory 1,038.07 Consignment Inventory 200.00 Prepaid Rent 2,114.55 Prepaid Insurance 2,114.55 Misc. Supplies 170.49 Total Current Assets 162,059.31 Long Term/Fixed Assets: Baking Equipment 12,000.00 Accumulated Depreciation -406.44 Net Fixed assets 11,593.56 Total Assets: 173,652.87 Liabilities and Owners' Equity Current Liabilities: Accounts Payable $23,437.11 Wages Payable 3,383.28 Interest Payable 211.46 Customer Deposit 1000.00 Total Current Liabilities $ 28,031.85 Long Term Liabilities: Notes Payable 5,000.00 Total Long Term Liabilities: 5,000.00 Total Liabilities: 33,031.85 Common Stock 20,000.00 Retained Earnings 120,621.02 Total Equity 140,621.02 Total Liabilities & Equity $ 173,652.87