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Q3. Calculate the following ratios from the Balance Sheet and the Income Statement given below: (1.5 Mark)

1. Current Ratio
2. Debt Ratio
3. Fixed asset turnover
4. Total asset turnover
5. Operating profit margin

Balance Sheet:
Cash		30,000
Acct/Rec		72,500
Inventories		50,000
Current assets		152,500
Net fixed assets		240,000
Total assets		392,500
Accts/Pay		44,500
Accrued expenses		31,000
Short-term N/P		9,500
Current liabilities		85,000
Long-term debt		110,000
Owner's equity		197,500
Total liabilities and owners equity		392,500
Income Statement:
Net sales		450,000
COGS		220,000
Gross profit		230,000
Operating expenses		128,000
Net operating income		102,000
Interest expense		18,500
EBT		83,500
Income taxes		33,000
Net income		50,500

Q4. Using the values below, answer the questions that follow: (1mark)

Amount of annuity: $500

Interest rate: 9%

N=10 years

1. Calculate the future value of the annuity, assuming that it is
   1. An ordinary annuity.
   2. An annuity due.

2. Compare your findings in parts a(1) and a(2). All else being identical, which type of annuityordinary or annuity dueis preferable as an investment? Explain why.