Problem 2-5 The following are financial statements of Splish Brothers Inc.. Splish Brothers Inc. Income Statement For the Year Ended December 31, 2017 Net sales $2,238,400 Cost of goods sold 1,032,400 Selling and administrative expenses 922,200 Interest expense 92,600 Income tax expense 70,880 Net income $ 120,320 Splish Brothers Inc. Balance Sheet December 31, 2017 Assets Current assets Cash Debt investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets $ 80,000 85,880 182,000 159,900 507.780 595,30 $ 1,103,080 Total assets $ 1,103,080 Liabilities and Stockholders Equity Current liabilities $ 179,900 37,380 Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities 217,280 212,200 429,480 Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 370,000 303,600 673,600 $1,103,080 Additional Information: The net cash provided by operating activities for 2017 was $210,700. The cash used for capital expenditures was $112,000. The cash used for dividends was $32,000. The weighted average number of shares outstanding during the year was 50,000. (a) Compute the following values and ratios for 2017. (We provide the results from 2016 for comparative purposes.) (Round Current Ratio and Earnings per Share to decimal place.g. 15.25 and Debt to assets ratio to 1 decimal place e.o. 78.9%. Enter negative amounts using either a negative sin preceding the number eu. 45 or parentheses em (45).) 0) Working capital (2016: $160,500) 6) Current ratio. (2016: 1.65:1) (H) Free cash flow. (2016: $48,700) (lv) Debt to assets ratio. (2016: 31%) (v) Earnings per share. (2016: $3.15) 0) Working capital $ () Current ratio 21 (Free cash flow $ (iv) Debit to assets ratio (0) Earrings per share $ Click if you would like to Show Work for this question: Den Show Work