NOVAK CORPORATION Balance Sheets December 31 2017 2016 2015 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $32,000 22,000 $20,000 47,000 98,000 73,000 52,000 93,000 58,000 50,000 67,000 48,000 358,000 500,000 370,000 $735,000 $610,000 $543,000 $ 87,000 82,000 72,000 88,000 323,000 313,000 303,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings 148,000 53,000 177,000 127,000115,000 $735,000 $610,000 $543,000 NOVAK CORPORATION Income Statements For the Years Ended December 31 2017 2016 $743,000 $603,000 42,000 32,000 701,000 571,000 Sales revenue Less: Sales returns and allowances Net sales Net sales Cost of goods sold Gross proft Operating expenses (including income taxes) Net income 701,000 571,000 428,000 353,000 273,000 218,000 182,000 $91,000 66,000 152,000 Additional information: 1. The market price of Novak's common stock was $7.0o, $7.50, and $8.50 for 2015, 2016, and 2017, respectively. 2. You must compute dividends paid. All dividends were paid in cash. (a) compute the tollowing ratios for 2016 and 2017. (Round earnings per share and asset turnover to 2 declmal places, e.g i e.g. 1.8 or 1.8%.) 2016 2017 Profit margin Gross profit rate Asset turnover Earnings per share Price-earnings ratio Payout ratio Debt to assets ratio times times times times