Pinnacle Plus declared and paid a cash dividend of $6,600 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Current Year Previous Year $ 110,000 $ 99,000 52,000 48,000 58,000 51,000 36,000 33,000 4,000 4,000 18,000 14,000 5,400 4,200 Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity Required: $ 12,600 $ 69,500 17,000 25,000 95,000 $ 206,500 $ 42,000 $ 9,800 $ 38,000 12,000 38,000 105,000 $ 193,000 $ 35,000 1,000 500 40,000 40,000 83,000 75,500 90,000 90,000 33,500 27,500 $ 206,500 $ 193,000 > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 6-a. Compute the debt-to-assets ratios for the current and previous years. (Round your answers to 2 decimal places.) 6-b. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 6-a. Current Year 6-a. Previous Year 40.20 x 39.10 6-b. Current year debt-to-assets ratio? Larger Proportion < Required 5 Required 7 > > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 8-a. After Pinnacle Plus released its current year's financial statements, the company's stock was trading at $18. After the release of its previous year's financial statements, the company's stock price was $15 per share. Compute the P/E ratios for both years. (Round your intermediate calculations to 2 decimal places and final answers to 1 decimal place.) 8-b. Does it appear that investors have become more (or less) optimistic about Pinnacle's future success? 8-a. Current Year 8-a. Previous Year 128.6 x 134.4 x 8-b. Current year P/E ratio? Less Optimistic < Required 7 Required 8 > Show less > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 5-a. Net property and equipment totaled $110,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. (Round your answers to 2 decimal places.) 5-b. Are the current-year results better, or worse, than those for the previous year? 5-a. Current Year 5-a. Previous Year 0.92 0.55 x 5-b. Current year fixed asset turnover? Better < Required 4 Required 6 >