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Please find total asset turnover and financial leverage [The following information applies to the questions displayed below The comparative financial statements for Prince Company are

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Please find total asset turnover and financial leverage
[The following information applies to the questions displayed below The comparative financial statements for Prince Company are below: Year 2 Year 1 Income statement Sales revenue Cost of goods sold $167000 $190,000 112.000 78,000 56,000 100,000 67000 53,000 Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (10% interest) 2200014,000 4,000 8,000 $ 14,000 $ 7000 18,000 34,000 38,000 $ 97000 $ 17000 45,000 30,000 5,000 $ 97000 $ 4,000 14,000 40,000 45,000 $ 16,000 45,000 30,000 12,000 Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabllities and stockholders' equity $ 103.000

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