QS. Using the information in the Balance Sheet and Profit and Loss Statement below, calculate the following ratios and answer the questions (8 points in total) 20X2 Piura Manufacturing Comparative Balance Sheets For the Years Ended June 30, 20Xland 20X2 20X1 Assets Cash $72.000 Accounts receivable Inventory 64.000 Plant and equipment 104.000 Accumulated depreciation (52.000) Land 20.000 Totales $22.000 Liabilities and equity Accounts payable $ 32.000 Wages payable 4.000 Bonds payable 24.000 Preferred stock (no par 4.000 Common stock 30,000 Paid in capital in een of par 50,000 Retained earning 108.000 Total liabilities and equity $252.000 5146400 48.000 H.000 112.000 (48.000) 20.000 $322.000 $48.000 16.000 12.000 36.000 76,000 132.000 5322.400 Particulars December 31 201 December 31 Net Sales Loss Cost of Goods Sold Gross Profit 1,70.000 1,05.000 65,000 1.90.400 1.20.000 70,400 20.400 f. 15.000 + 5.400 - 12.00 (.) 14.30 () 3 Administrative Expenses 13.200 14,960 (+) 1760 133 3.000 40.800 43.800 4.000 41300 45.000 1.000 1.000 2.000 (333 25 Selling Expenses Advertisement Expenses Other Selling Expenses Total Selling Expenses Operating Expenses Operating Profit 57.000 3.760 6.6 60,760 9.640 8.000 20.5 6,400 9.200 2.800 Other Income Other Expenses Profit Before Tax 6.800 4800 2.000 H 29.4 7.500 14.040 84.7 Income Tax 3.800 6.200 () 2.400 Profit Alert 7.340 ( 4.00 1063 2) Calculate the following Solvency Ratios Debt to Solvency ratios in year 1= Debt to Solvency ratios in year 2= Times interest Earned Ratios in year 1 Times interest Earned Ratios in year 2