Question five Income Statement Dana Dairy Products For the Year Ended December 31, 2013 Sales revenue $100,000 Less: Cost of goods sold 87.000 Gross profits $ 13,000 Less: Operating expenses 11,000 Operating profits $ 2,000 Less Interest expense 500 Net profits before taxes $ 1,500 Less Taxes (40%) 600 Net profits after taxes $ 200 Balance Sheet Dana Dairy Products December 31, 2013 Assets $1,000 8.900 4,350 $14,250 Cash Accounts receivable Inventories Total current assets Gross fixed assets Less Accumulated depreciation Net fixed assets Total assets $35,000 13,250 21.750 $36,000 Liabilities & Stockholders' Equity Accounts payable Accruals Total current liabilities Long-term debt Total liabilities Common stock Retained carnings Total stockholders' equity $ 9,000 6,675 $15,675 4.125 $19,800 1,000 15,200 $16,200 $36,000 Total liabilities & stockholders equity Compute: Current ratio.inventory turnover average collection period debt ratio.gross profit margin