Pepper Company provided the incomplete financial statements shown below as well as the following additional information: 37.5 points a. All sales during the year were on account. b. There was no change in the number of shares of common stock outstanding during the year. c. The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change during the year. d. Selected balances at the beginning of the current year were: eBook Print References Accounts receivable Inventory Total assets $ 160,000 $ 280,000 $1,200,000 2 Check my e. Selected financial ratios computed from the statements below for the current year are: 37.5 points $ 4.05 0.875 15.0 Earnings per share Debt-to-equity ratio Accounts receivable turnover Current ratio Return on total assets Times interest earned ratio Acid-test ratio Inventory turnover 2.40 eBook 14% 5.5 1.12 6.0 Print References Required: 2 Urpul umy urmour UI LUI purny ILIUI LUFTIJ. HITIL. Usui RCTURUCU current ratio?) (Do not round intermediate calculations.) 37.5 points $ 2,700,000 eBook Pepper Industries Income Statement For the Year Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes (40%) Net income Print References 45.000 Check my work 2 Balance Sheet March 31 Current assets: Cash 37.5 points eBook Print References s 250,000 Accounts receivable, net Inventory Total current assets Plant and equipment, net Total assets Liabilities: Current liabilities Bonds payable, 10% Total liabilities Stockholders' equity: Common stock, $2.50 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity