Q-13 Selected information from the comparative financial the year ended Decemb outstanding for both years. statements of Yonk Corporation for er 31 appears below. Yonk has had 15,000 average shares of common stock 2007 2006 Accounts receivable (net) Inventory Total assets Current liabilities Long-term debt Net credit sales Cost of goods sold Interest expense Income tax expense S 175,000 $200,000 150,000 800,000 110,000 300,000 130,000 1,100,000 140,000 410,000 800,000 600,000 700,000 530,000 40,000 60,000 150,000 25,000 29,000 85,000 135,000 Net income 220,000 Net cash provided by operating activities Answer the following questions relating to the year ended December 31,2007, Show and label all calculations E13-13. Compute ratios. (LO 3, AP The condensed financial statements of Ness Company for the years 2016 and 2017 are presented below. NESS COMPANY Balance Sheets December 31 (in thousands) 2017 2016 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses $ 330 360 470 400 460 390 130 160 1,390 1,310 410 380 10 Total current assets Property, plant, and equipment (net) Investments 10 Q-13 Selected information from the comparative financial the year ended Decemb outstanding for both years. statements of Yonk Corporation for er 31 appears below. Yonk has had 15,000 average shares of common stock 2007 2006 Accounts receivable (net) Inventory Total assets Current liabilities Long-term debt Net credit sales Cost of goods sold Interest expense Income tax expense S 175,000 $200,000 150,000 800,000 110,000 300,000 130,000 1,100,000 140,000 410,000 800,000 600,000 700,000 530,000 40,000 60,000 150,000 25,000 29,000 85,000 135,000 Net income 220,000 Net cash provided by operating activities Answer the following questions relating to the year ended December 31,2007, Show and label all calculations E13-13. Compute ratios. (LO 3, AP The condensed financial statements of Ness Company for the years 2016 and 2017 are presented below. NESS COMPANY Balance Sheets December 31 (in thousands) 2017 2016 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses $ 330 360 470 400 460 390 130 160 1,390 1,310 410 380 10 Total current assets Property, plant, and equipment (net) Investments 10