Slayer Inc. Year 2 Income Statement: Required: $ Sales COGS Gross Margin Op. Expenses Op. Income Loss on Disposal Income Before Taxes 1,250,000 715,000 535,000 305,000 230,000 15,000 215,000 65,000 i) Compute Current Ratio & Quick Ratio ii) Compute the four Efficiency Ratios iii) Compute the five Profiotabilty Ratios iv) Compute the three Solvency Ratios v) Complete the Quiz on Canvas Taxes Net Income 150.000 Comparative Balance Sheets: Assets Cash AR Inventory Prepaids Total Current Assets Year 2 40,000 205,000 225,000 25,000 495,000 Year 1 25,000 215,000 180,000 15,000 435,000 Long Term Investments 25,000 15,000 Property, Plant & Equipment Accum. Depreciation Net Property, Plant & Equipment 435,000 (120,000) 315,000 350,000 (80,000) 270,000 Total Assets $ 1835,000 $ 720.000 Liabilities AIP 145,000 Unearned Revenue 20.000 175,000 45,000 220,000 Total Current Liabilities 165,000 Long Term Note Payable 140,000 145,000 Total Liabilities 305,000 365,000 Equity Common Stock Retained Earnings Total Owners' Equity 370,000 160,000 530,000 260,000 95,000 355,000 Total Liabilities & Equity 835,000 720.000 Next, you will want to calculate Working Capital, Current Ratio, Quick Ratio, Inventory Turnover, Number of Days Sales in Ending Inventory, A/R Turnover, Number of Days Sales Uncollected, ROA/ROI, ROE, Debt Ratio, Equity Ratio and Debt-to-Equity Ratio. All answers should be computed to the nearest tenth (i.e., X.X) or tenth of a percent (X.X%). What is the Year 2 Current Ratio? What is the Year 2 Quick Ratio? What is the Year 2 Inventory Turnover? What is the Year 2 A/R Turnover (assume 100% of sales are on credit)