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Problem 1 2 - 4 B ( Algo ) Calculate risk ratios ( LO 1 2 - 3 ) The following income statement and balance
Problem B Algo Calculate risk ratios LO
The following income statement and balance sheets for The Athletic Attic are provided.
THE ATHLETIC ATTIC
Income Statement
For the Year Ended December
Net sales $
Cost of goods sold
Gross profit
Expenses:
Operating expenses $
Depreciation expense
Interest expense
Income tax expense
Total expenses
Net income $
THE ATHLETIC ATTIC
Balance Sheets
December
Assets
Current assets:
Cash $ $
Accounts receivable
Inventory
Supplies
Longterm assets:
Equipment
Less: Accumulated depreciation
Total assets $ $
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ $
Interest payable
Income tax payable
Longterm liabilities:
Notes payable
Stockholders' equity:
Common stock
Retained earnings
Total liabilities and stockholders equity $ $
Required:
Assuming that all sales were on account, calculate the following risk ratios for Use days a year. Round your final answers to decimal place.
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