Problem 3-16 (similar to) (Working with financial statements) Based on the balance sheet, and income statement, E, for T. P. Jarmon Company for the year ended December 31, 2018: a. How much is the firm's net working capital and what is the debt ratio? b. Complete a statement of cash flows for the period. c. Compute the changes in the balance sheets from 2017 to 2018. a. How much is the firm's net working capital and what is the debt ratio? The net working capital is $ (Round to the nearest dollar.) T. P. Jarmon Company Income Statement for Years Ended 12/31/2018 Sales $ 600,100 460,500 Less cost of goods sold Gross profit $ 139,600 Operating and interest expenses General and administrative $ 30,200 Interest 10.200 Depreciation 30,100 Total operating and interest expenses $ 70.500 Earnings before taxes $ 69, 100 Taxes 27.640 Net income available to common stockholders $ 41,460 Cash dividends 31.900 $ Change in retained earnings 9.560 Print Done T. P. Jarmon Company Balance Sheet for 12/31/2017 and 12/31/2018 Assets 2017 2018 Cash $ 15,000 $ 14,000 Marketable securities 6,000 6,100 Accounts receivable 42,000 32,900 Inventory 51,000 82,860 1,200 1,200 Prepaid rent $ 115,200 $ 137,060 Total current assets $ 286,000 $ 270,000 Net plant and equipment $ 401,200 $ 407,060 Total assets Liabilities and Equity 2017 2018 $ 48,000 $ 57,100 Accounts payable 5,200 Accruals 6,000 15,000 13,000 Notes payable $ 69,000 $ 75,300 Total current liabilitiae Liabilities and Equity 2017 2018 Accounts payable $ 48,000 $ 57,100 5,200 6,000 Accruals 15,000 13,000 Notes payable $ 69,000 $ 75,300 Total current liabilities $ 160,000 $ 150,000 Long-term debt $ 172,200 $ 181,760 Common stockholders' equity $ 401,200 $ 407,060 Total liabilities and equity Print Done