Problem 9-24 Ratio analysis LO 9-2, 9-3, 9-4, 9-5 Financial statements forRevnik Company follow. REVNIK COMPANY Balance Sheets As of December 31 2015 2014 Assets Current assets 23,000 19,000 Cash Marketable securities 21,400 7,400 Accounts receivable (net) 55,000 47,000 140,000 148,000 Inventories Prepaid items 29,000 14,000 Total current assets 268,400 235,400 Investments 32,000 25,000 265,000 Plant (net) 280,000 27,000 Land 32,000 $612,400 $552,400 Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities 35,400 13,900 Notes payable Accounts payable 88,800 75,000 Salaries payable 23,000 17,000 147,200 105,900 Total current liabilities Noncurrent liabilities 120,000 120,000 Bonds payable Other 29,000 24.000 Total noncurrent liabilities 149,000 144,000 296,200 249,900 Total liabilities Stockholders' equity Preferred stock, (par value $10, 4% cumulative, non-participating; 9,000 shares authorized and issued) 90,000 90,000 Common stock (No par, 50,000 shares authorized; 10,000 shares issued) 90,000 90,000 Retained earnings 136,200 122,500 Total stockholders' equity 316,200 302,500 Total liabilities and stockholders' equity $612,400 $552,400