QUESTION 1 Use the informtion below to answer questions 1-11: Cash $20,000.00 A/R $70,000.00 Inventory $100,000.00 A/P(Short Term) $160,000.00 Bonds Payable (long term debt) $400,000.00 Common Stock (Outstanding Shares 1,000) $30,000.00 Retained Earnings $180,000.00 Fixed Assets $580,000.00

1. From the information above, calculate Total Current Assets. It may be more helpful to first create a Balance Sheet from the information provided.

2. From the information above, calculate Total Current Liabilities.

3. From the information above, calculate Total Assets.

4. From the information above, calculate Total Owners Equity.

5. From the information above, calculate Total Long Term Liabilities.

6. From the information above, calculate Total Liabilities and Owners Equity.

7. From the above information, calculate the Current Ratio.

Carry your answer 2 decimal places and round appropriately

8. Calculate the Quick Ratio.

Carry your answer in 2 decimal places and round appropriately.

9. If a company had a Current Ratio of 1.5 and a Quick Ratio of .75, would you extend credit to this company on a short-term basis? Consider how the company's current asset of inventory would impact your decision. Provide your reasoning. I am looking for a short paragraph answer.

10. If the Company's Net Income for the year was $30,000, calculate the Company's Earnings Per Share.

11. The Company's Ending Retained Earnings were $180,000. If it paid no dividends for the year and had a Net Income of $30,000 for the year, what was its beginning Retained Earnings balance?