Part B. Income Statement Rent 16,000 Salaries 24,500 Cost of Goods Sold 99,000 Utilities 9,000 Office supplies 4,500 Sales 196,000 Advertising 3,700 Interest payments 4,000 Taxes 12,720 Calcuate the following Gross profit Operating profit (or net profit before taxes) net-profit Part C. Using data from parts A and B, including derived data in gray cells, calculate the following financial ratios current ratio acid-test (quick) ratio inventory turnover (assume beg. inv. balance of $15,000) return on equity debt-to-equity ratio earnings per share