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Balance Sheet (in $000) Assets Cash $ 4,200 Liabilities & Equity Accounts Payable $ 27,000 Marketable Securities Accounts Receivable Inventory Fixed Assets Total Assets $ 5,000 $ 49,800 $ 40,000 $ 44,000 $ 143,000 Notes Payable (due within 3 months) $ 15,000 Long-term debt $ 36,000 Common Stock $ 30,000 Additional Paid-in Capital $ 5,000 Retained Earnings $ 30,000 Total Liabilities & Equity $ 143,000 Income Statement (in $000) Sales not of annde cold $ 210,000 1 An Ann Learning AutoSave Insert Home Draw Design Layout References Mailings View Review Times New... 11.5 v ' ' A Every 5 te LG 3 Paste B 1 Uab x x Income Statement (in $000) Sales $ 210,000 Cost of goods sold $ 140,000 Gross Margin $ 70,000 Selling & Administrative Expenses $ 20,000 Depreciation $ 9,000 EBIT $ 41,000 Interest Expense $ 5,000 Earnings before tax $ 36,000 Taxes $ 11,000 Net Income $ 25,000 Calculate fixed-asset turnover ratio. 2). A). 4.2 B). 4.4 C). 4.6 D). 4.8 E). 5.0 3). A 74 Calculate the firm's time interest earned. References Mailings Review Home Insert Layout Draw Design Times New... 11.5 ' Aa Paste B I U vabx X carnings before tax Taxes Net Income ESE DE $ 30,000 $ 11,000 $ 25,000 Calculate fixed-asset turnover ratio. 2). A). 4.2 B). 4.4 C). 4.6 D). 4.8 E). 5.0 3). Calculate the firm's time interest earned. A). 7.4 B). 7.6 C). 7.8 D). 8.0 E). 8.2