Refer to the financial statement data for Patriot Corp. for 2011 and 2010. Complete the table by computing the ratios. Must show detailed calculations for credit beyond 50% to any correct answer.

Patriot Corp.
Balance Sheet
As of December 31,	2011	2010
Assets:
Cash and Cash Equivalents	$ 69,000	$ 55,250
Accounts Receivable	126,500	80,750
Inventory	92,000	63,750
Current Assets	287,500	199,750
Equipment	194,063	148,750
Less: Accumulated depreciation	-38,813	-29,750
Equipment-Net	155,250	119,000
Land	132,250	106,250
Total assets:	$575,000	$425,000
Liabilities:
Accounts Payable	$ 69,000	$ 42,500
Accrued Salaries Payable	51,750	42,500
Rent Expense Payable	35,750	28,500
Income Tax Payable	4,788	1,250
Current Liabilities	161,288	114,750
Long-term note payable	172,500	102,000
Total Liabilities	333,788	216,750
Stockholders Equity:
Common stock	115,000	89,250
Retained earnings	126,212	119,000
Total liabilities and stockholders equity:	$575,000	$425,000

Patriot Corp.
Income Statement
For the year ended December 31, 2011
Revenues	$ 373,750
Cost of goods sold	(224,250)
Gross Profit		$149,500
Operating Expenses
Depreciation expense	(9,062)
Salary expense	(56,063)
Insurance Expense	(44,850)
Rent Expense	(18,688)
Interest Expense	(6,120)
Total Operating Expenses		(134,783)
Income from Operations		14,717
Income Tax Expense		(4415)
Net income		$ 10,302
Dividends paid to Common Shareholders	$ 3,090

Financial Ratio to be calculated:

	2011	2010
Current Ratio
Quick Ratio
Days Accounts Receivable		N/A
Days Inventory		N/A
Days Accounts Payable		N/A
Net Days Working Capital		N/A
Long-term Debt to Long-term Capital Ratio
Long-term Debt to Shareholders Equity ratio
Liabilities to Total Assets
Interest Coverage ratio		N/A
N/A - Not Applicable for the given year