Needing helping with the ratios on requirement 11.

Requirement #7: Prepare the financial statements for Howard's Flight Radio Management Corporation as of March 31 in the space below. You will only be preparing the Income Statement, Statement of Retained Earning, and the Balance Sheet, The Statement of Cash Flows is a required Financial Statement, but is not required for this project. 1 2 3 Howard's Flight Radio Management Corporation Howard's Flight Radio Management Corporation Howard's Flight Radio Management Corporation 5 Income Statement Statement of Retained Earnings Balance Sheet 5 For the Month Ending March 31 For the Month Ending March 31 March 31 7 3 Revenues: Retained Earnings, March 1 Assets: 3 FMS Repair Revenue $5,350 Add: Net Income 2,025 Cash $18,060 0 Total Revenue 5,350 Subtotal 2.025 Prepaid Insurance 2.200 1 Less : Dividends 1,000 Repair Supplies 200 2 Expenses: Retained Earnings, March 31 $1,025 Repair Equipment 5,800 3 Store Rent Expense 1,900 Less: Accum. Depr. 120 4 Telephone Expense 340 Total Assets $26.140 5 Insurance Expense 200 6 Repair Supplies Exp. 450 Liabilities and Stockholders' Equity 7 Depreciation Exp. 120 Liabilities: 8 Income Taxes Expense 65 Accounts Payable $5,050 9 Electric Expense 250 Income Taxes Payable 65 0 Total Expenses 3,325 Total Liabilities 5.115 -1 2 Net Income 2.025 Stockholders' Equity: 3 Common Stock 20,000 4 Retained Earnings 1,025 5 Total Stockholders' Equity 21.025 6 -7 7 Total Liabilities & Stockholders' $26,140 8 9 -0 Requirement #11: Ratios Using the data from Income Statement and Balance Sheet prepared by you in step 7 compute the following ratios. Current Ratio Leverage Ratio Asset Turnover Ratio Net Profit Margin Ratios Rate of Return on Total Assets