Refer to the list of income statement items below for Clairant Holdings for the year ended 31 December 2016. List of Income Statement Items are given below: Advertising expense $9,000 Cost of goods sold Depreciation expense - computer 150,000 Interest expense 4,500 Rent expense - office 1,900 26,400 Sales revenue 350.000 Supplies expense - office 1,300 Utilities expense 6,750 Salaries expense - office 45,600 Find the following: (a) Gross Profit (1 mark) (b) Operating Profit (1 mark) (c) Net Profit (1 mark) 7 III E A B 1 Hurlon Company reported the following amounts on its balance sheet as of December 31, 2018 and December 31, 2019: 2019 Cash 2018 $15,000 Inventory $45,000 215,000 Receivables 170,000 60,000 100.000 Property, Plant and Equipment, net 750.000 800,000 Total Assets $1,040,000 $1,115,000 Total Liabilities $695.000 $435,000 (a) Perform a vertical analysis of the items (1) inventory and (2) receivables for the year 2019. (1.5 marks) (b) Perform a horizontal analysis of total liabilities and state your observation. (1 mark) 1 A- I Danish Inc. has total current assets of $1,570,000; total current liabilities of $902,000; owner's equity of $450,000 and long-term assets of $800,000. Find the company's: (1) Total Liabilities & Equity (0.50 mark) (2) Long Term Debt (0.50 mark) (3) Debt to Total Asset Ratio (1 mark) 1 iii of 8.5 times a year, and credit sales of $932,000, find: (1) the average collection period (1 mark) (2) the accounts receivable (1 mark) 7 A B I E 20 A company has average earnings of $2 million, interest on senior bonds of $400,000, and $160,000 interest on junior bonds. What is the Interest Cover Ratio (Times Interest Earned)? of 1 A- B