Please show formula for answers to cells in yellow.

1. Use ratios to analyze a company's liquidity and solvency Calculate Select Ratios Excel FILE Sign In HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibr . S. . Alignment Number Conditional Format as. Cell Cells Editing Formatting Table Styles Paste 1- Clipboard Font Styles 39 1 Condensed financial statements for Games Galore are summarized below: 3 Balance Sheet 2016 2015 $ 185,000 $143,000 4 Cash Accounts Receivable, Net 80,000 59,000 6 Inventory 104,000 134,000 7 Prepaid Insurance 11,900 5,880 8 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 748,880 $85,300 96,800 12 Current Liabilities 13 Long-term Liabilities 14 Total Liabilities 284,000 224,000 369,300 320,800 15 ontrihutod Canital S Accounts Receivable, Net 8 Total Current Assets 9Property and Equipment, Net 12 Current Liabilities 15 Contributed Capital 17 Total Stockholders' Equity 18Tota Liabilities and Stockholders' Equity 21 Net Sales (all on account 22 Cost of Goods Sold 24 Operating Expenses 25 Income from Operations 26 Interest Fxnense ... + ...Sheet1 READY 100% Attempt(s) 5/10 26 Interest Expense 27 Income before Income Tax Expense 14,500 176,100 47,000 28 Income Tax Expense 29 Net Income S 129,100 30 31 Required: 2 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL 34 ROUND FUNCTION (fx) 35 Current ratio (rounded to one decimal place) 4.5 to 1 36 Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) 43.61 times 8 days 37 16.38 times 38 39 Days' sales in inventory (rounded to the nearest day) 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx) 3 Debt to assets (rounded to two decimal places) 44 Times interest earned (rounded to one decimal place) to 1 13.1times 45 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx) 8 Profit margin ratio (rounded to one decimal place) percent 49 Gross margin ratio (rounded to one decimal placo Sheet1 READY + 100% Attempt(s) 5/10 Hint