Show your work. Keep two decimal places to the ratios Utilizing the income statement and balance sheet provided for the month ended December 31, 2017, calculate the 11 ratios to determine the financial strength of Grand Hotel. Revenues: Rooms 780,000 Food 430,000 Telecommunications 40,000 Total Revenues Cost of Sales: Rooms 0 Food 142,000 Telecommunications 30,000 Total Cost of Sales Gross Profit Rooms Food Telecommunications Total Gross Profit Operating (Controllable) Expenses: Dan Eman Ronnie 780,000 288,000 10,000 K 320,000 48,400 51,500 80,250 105,000 65,250 670,400 Total Gross Profit Operating (Controllable) Expenses: Payroll and Employee Benefits Direct Operating Expenses Marketing Utilities Administration & General Property Operation and Maintenance Total Operating Expenses Operating Income Other (Non-controllable) Expenses: Rent Property Taxes Insurance Depreciation Interest Total Non-controllable Expenses Income Before Income Taxes Income Taxes Net Income 20,000 20,000 5,500 60,000 54,000 159,500 94,300 21,000 81,000 90,000 17,000 12,000 Current Assets: Cash Short-Term Investments Accounts Receivable Inventories Prepaid Expenses Total Current Assets Fixed Assets: Land Buildings Furniture & Equipment Accumulated Depreciation Net Fixed Assets Other Assets-Operating Equipment Total Assets 68,500 850,000 190,000 -320,000 55,500 Current Liabilities: Accounts Payable Accrued Income Taxes Accrued Expenses Current Portion of Long-Term Debt Total Current Liabilities 53,500 32,000 85,200 21,500 Total Assets 53,500 32,000 85,200 21,500 452,800 Current Liabilities: Accounts Payable Accrued Income Taxes Accrued Expenses Current Portion of Long-Term Debt Total Current Liabilities Long Term Debt Total Liabilities Owner's Equity Common Stock Paid-in Capital in Excess of Par Retained Earnings Total Owner's Equity Total Liabilities and Owner's Equity 55,000 110,000 255,000 QUESTION Find out what is current ratio from the balance sheet? QUESTION 4 Find out what is quick ration from the balance sheet? QUESTION 5 Find out what is debt ratio from the balance sheet? QUESTIONS Find out what is the times interest earned (TIE) from the balance sheet? QUESTION 7 Find out how much is the inventory turnover from the balance sheet? QUESTION 8 Find out how much is the fixed asset turnover from the balance sheet? QUESTION 9 Find out what is the food cost percentage from the balance sheet? QUESTION 10 Find out what is the labor cost percentage from the balance sheet? Find out what is the labor cost percentage from the balance sheet? QUESTION 11 Find out the net profit margin from the balance sheet? QUESTION 12 Find out how much is the return on assets from the balance sheet? QUESTION 13 Find out how much is the return on equity (ROE) from the balance sheet