Question 58 income statement Sales cost of goods sold salaries expense depreciation expense interest expense loss on equipment disposal net income 205,000 -97,000 -24,000 -16,000 -2,400 -2,500 63,100 Statement of Retained Earnings Beginning Balance - Retained Earnings Plus - Net Income 6,000 Less - Dividends Ending Balance - Retained Earnings 63,100 (41,500) 27,600 Balance sheets Assets: Cash Accounts Receivable Inventory prepaid expenses Equipment Accum. Depr - Equipment total assets 13,000 25,000 19,000 0 60,000 (22,000) 95,000 64,600 19,000 13,000 0 41,000 (26,000) 111,600 51,600 (6,000) (6,000) 0 (19,000) (4,000) Liabilities: Accounts Payable accrued Liabilities Bonds Payable total liabilities 11,000 13,000 40,000 64,000 9,000 10,000 40,000 59,000 (2,000) (3,000) 0 Shareholders' Equity: Common Stock Retained Earnings total equity total liabilities and shareholder equity 25,000 6,000 31,000 25,000 27,600 52,600 0 21,600 95,000 111,600 Based on the above financial statements, calculate the following ratios for 2019: A. Current Ratio B. Gross Profit Percentage C. Debt Ratio D. Debt to Equity Ratio