Q1. La Rue Company reported the following data: Other information: 1. The market price of the company's shares on December 31, 2017 was $0.62 2. A $2 per share dividend was paid on the preferred shares. 3 4,000 common shares were issued on July 1, 2017. 4. An $18,000 dividend was paid on the common shares on November 15, 2017 INCOME STATEMENT 2017 $279,355 167,400 111.955 Sales Cost of goods sold Gross margin Operating expenses: Sales and marketing expense General and administrative expense Research and development expense Other operating expense Total operating expenses Operating income Interest expense Income tax expense Net income (loss) * All sales are on account. 31,750 49,687 15,000 7,887 104.319 7,636 3,550 1.419 $2.637 Determine the results for the following ratios for 2017: 1. Current ratio 2. Inventory turnover 3. Quick ratio 4. Accounts receivable turnover 5. Debt ratio 6. Times-interest-earned ratio 7. Earnings per share 8. Price/earnings ratio for common shares BALANCE SHEET 2017 2016 $11,837 15,600 39.000 65,437 195,000 15,000 $275,437 $7,200 16,500 31,000 55,000 168,000 27.100 $250.100 Assets Current assets: Cash Accounts receivable, net Inventory Total current assets Property, plant and equipment, net Other long-term assets Total assets Liabilities Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term notes payable Total liabilities Shareholders' Equity Preferred shares (1,000 outstanding) Common shares (20,000 outstanding Dec 31, 2017) , Contributed surplus Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $9,500 1.400 9,900 54.000 $69.900 $7,300 3.900 11,200 30,000 $41.200 $30,000 100,000 31,000 50.537 $211.537 $275.437 $30,000 80,000 31,000 67.900 $208.900 $250.100