Q1. Prepare a balance sheet for XYZ Inc. for the year ended Dec. 31, 3015 using the information given below. Please show the common size balanced sheet, the debt ratio and Net working capital and indicate if there is any mistake in the question Income taxes $25,000 EBIT $35,000 Gross fixed assets $40,000 Cash $18,000 Other assets $5,000 Accumulated depreciation $30,000 Common stock $43,000 Short-term notes payable $12,000 Accounts payable $35,000 Net earnings $38,000 Inventories $122,000 Retained earnings $100,000 Accounts receivable $60,000 Long-term notes payable $10,000 Taxable income $52,000 Long-term bonds payable $15,000 Sales $350,660 Cost of goods sold $150,000 Depreciation expense $3,000