Problem # 1 (50 points) Given the Income Statement and Balance Sheet Compute: Current Ratio Acid-Test Ratio Days in Receivable Days in Inventory Operating Profit Margin Total Asset Tumover Fixed-asset turnover Debt Ratio Times Interest Earned Return on Equity Income Statement Balance Sheet Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Gross Plant and Equipment Accumulated Depreciation Net Fixed Assets Total Assets $200,000 $60,000 $100,000 $20,000 $380,000 $802,000 -$132,000 $670,000 $1,050,000 Sales (all credit) Cost of Goods Sold Gross Profit Selling and General Expenses Depreciation Expense Operating Profit Interest Expense Earnings Before Taxes Taxes Net Income $420,000 $180,000 $240,000 $58,000 $52,000 $130,000 $16,000 $114,000 $32,000 $82,000 Liabilities and Equity Accounts Payable Accrued Liabilities Total current Liabilities Long Term Debt Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities and Equity $180,000 $126,000 $306,000 $240,000 $546,000 $410,000 $94,000 $504,000 S1,050,000 Current Ratio Total Asset Turnover Acid-Test Ratio Fixed-asset tumover Days in Receivable Debt Ratio Days in Inventory Times Interest Earned Operating Profit Margin Return on Equity