Question perform the following ratios using the financial statements below:Income and Retained Earning & Balance Sheet

1. Current Ratio 2.Days to Sell Inventory

3. Average Collection Period

4. Debt-to- Total Assets Ratio

5. Times interest earned

6. Profit Margin

7. Return on Assets

8. Return on Equity

Teletronix Inc Income and Retained Statement at December 31, 2018

Revenues

Net Sales$880,000

Total Revenues

Cost and Expenses

Cost of Goods Sold $ 550,000

Interest Expense ... 30,000

Income Tax Expense 12,000

Selling, General & Administrative Expenses. 61,800

Salaries Expense.. 110,000

Total cost and expense ,.,763,800

Net Income. $116,200

Retained Earnings beginning of the year.20,000

Closing Balance ..$136,200

Balance Sheet

December 31, 2018

Assets

Current Assets

Cash. $28,000

Accounts Receivable. 86,800

Notes Receivable... 10,000

Merchandise Inventory. 36,000

Prepaid Insurance.. 3,800

Total current Assets $164,100

Plant and Equipment, cost

Land.. 20,000

Building 150,000

Accumulated Depreciation Building..50,000 100,000

Equipment60,000

Accumulated Depreciation Equipment. 24,000 36,000

Patent 9,000

Total Assets $329,100

Liabilities and shareholders

Current Liabilities

Accounts Payable. 44,300

Mortgage bonds Payable.. 48,600

.

Total current liabilities 92,900