please help me with these two problems. the answers I have are wrong. thanks for your help!

Paul Sabin organized Sabin Electronics 10 years ago to produce and sell several electronic devices on which he had secured patents. Although the company has been fairly profitable, it is now experiencing a severe cash shortage. For this reason, it is requesting a $690,000 long-term loan from Gulfport State Bank, $195,000 of which will be used to bolster the Cash account and $495,000 of which will be used to modernize equipment. The company's financial statements for the two most recent years follow: Sabin Electronics Comparative Balance Sheet This Year Last Year $ 146,000 724.000 1.135.000 38,000 2,043,000 2,229,400 4272.400 340,000 16,000 490,000 785,000 41,000 1,672,000 1,480,000 3.152,000 $ $ Assets Current assets Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders Equity Liabilities: Current liabilities Bonds payable, 12% Total liabilities Stockholders' equity Common stock, $15 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S 895,000 850,000 1,745,000 410,000 850,000 1,260,000 880,000 1,647.400 2.527,400 4,272,400 880.000 1,012.000 1,892,000 3,152.000 $ Sabin Electronics Comparative Income Statement and Reconciliation This Year Sales $ 5,950,000 Cost of goods sold 4,065,000 Gross margin 1,885,000 Selling and administrative expenses 691,000 Net operating income 1,194,000 Interest expense 102,000 Net income before taxes 1,092.000 Income taxes (30%) 327,600 Net income 764,400 Common dividends 129.000 Net income retained 635.400 Beginning retained earnings 1,012,000 Ending retained earnings $ 1,647,400 Last Year $ 4,920,000 3,640,000 1,280,000 586,000 694,000 102,000 592,000 177,600 414,400 108,000 306,400 705,600 $ 1,012.000 During the past year, the company introduced several new product lines and raised the selling prices on a number of old product lines in order to improve its profit margin. The company also hired a new sales manager, who has expanded sales into several new territories. Sales terms are 2/10, n/30. All sales are on account. Required: 1. To assist in approaching the bank about the loan, Paul has asked you to compute the following ratios for both this year and last year. a. The amount of working capital. b. The current ratio. c. The acid-test ratio. d. The average collection period. (The accounts receivable at the beginning of last year totaled $440,000.) e. The average sale period. (The inventory at the beginning of last year totaled $690,000.) f. The operating cycle. 9. The total asset turnover. (The total assets at the beginning of last year were $3,112,000.) h. The debt-to-equity ratio. i. The times interest earned ratio. I. The equity multiplier. (The total stockholders' equity at the beginning of last year totaled $1,882,000.) 2. For both this year and last year: no XP WOS 7.27 PM 2/28/2020 23 Required: 1. To assist in approaching the bank about the loan, Paul has asked you to compute the following ratios for both this year and last year: a. The amount of working capital. b. The current ratio. c. The acid-test ratio. d. The average collection period. (The accounts receivable at the beginning of last year totaled $440,000.) e. The average sale period. (The inventory at the beginning of last year totaled $690,000.) f. The operating cycle. g. The total asset turnover. (The total assets at the beginning of last year were $3,112,000.) h. The debt-to-equity ratio. i. The times interest earned ratio. j. The equity multiplier. (The total stockholders' equity at the beginning of last year totaled $1,882,000.) 2. For both this year and last year: a. Present the balance sheet in common-size format. b. Present the income statement in common-size format down through net income. Complete this question by entering your answers in the tabs below. UM Common Size Balance Sheets This Year Last Year Assets Current assets Cash Marketable securities Accounts receivable, net 439% 0.0 2.4% 0.1 4.3 3.5 Inventory 5.21% 6.0/% Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 12% Total liabilities Stockholders' equity: Common stock, $15 par Retained earnings Total stockholders' equity Total liabilities and equity 0.0 0.01 - 0.0% 0.0 0.0% O Type here to search os Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Present the income statement in common-size format down through net income. (Round yo Sabin Electronics Common-Size Income Statements This Year Sales 100.0 % Cost of goods sold 68.3 Gross margin 31.71 Selling and administrative expenses 11.6 Net operating income 20.11 Interest expense 0.71 Net income before taxes 19.4 Income taxes 2.11 Net income 17.3 % L ast Year 100.0 % 74.00 26.01 4.5 21.5 0.8 20.7 1.4 19.3 % O Type here to search