P3-1. Calculating Ratios Below are the financial statements for Mowing and Maintenance, Inc. Mowing & Maintenance, Inc. Balance Sheet as of December 31, 2017 and 2016 dolla Assets 2012 2016 Liabilities & Equity 2012 2016 Current assets: Current liabilities: Cash and marketable Accrued wages and 75 65 taxes 115 110 Accounts payable $ 40 $ 43 Accounts receivable 80 $210 193 300 280 110 100 preferred stock (5 million shares)5 5 65 90 200 190 Notes payable Total Current Assets 390 365 Total Current Liabilities Fixed assets: Long-term debt: Gross plant and equipment 580 471 Stockholders' equity: Less: Depreciation Net plant and Common stock and paid-in surplus equipment 470 371 50-49 520420 65 Other long-term assets (65 million shares) Total Fixed Assets Retained earnings Total Equity 400 312 Total assets 910 5 Total liabilities and equity Mowing & Maintenanoe, Inc. Income Statement for Years Ending December 31, 2017 and 2016 Net sales (all credit) Less: Cost of goods sold Gross profits Less: Depreciation 515 230 432 $285 $257 20 $212 $182 Other operating expenses Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income $233 $200 Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings 138 $122 73 $ 57 Per (common) share data Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) $2.123 $1.000 $6.077 $14.750 $1.877 $1.000 $4.723 $12.550