T. P. Jarmon Company Balance Sheet for 12/31/2017 and 12/31/2018 Assets 2017 2018 Cash 15,000 $ 13 900 Marketable securities 6,000 6,300 Accounts receivable 42,000 33,100 Inventory 51,000 83,080 Prepaid rent 1.200 1.000 Total current assets $ 115,200 $ 137.380 Net plant and equipment $ 286,000 $ 270.100 Total assets $ 401,200 $ 407.480 Liabilities and Equity 2017 2018 Accounts payable $ 48,000 $ 56,800 Accruals 6,000 15,000 Notes payable 4,800 13,000 Total current liabilities $ 69 000 74,600 Long-term debt $ 160,000 $ 149,900 Common stockholders' equity $ 172,200 $ 182 980 Total liabilities and equity $ 401,200 $ 407 480 T. P. Jarmon Company Income Statement for Years Ended 12/31/2018 Sales $ 600,500 459,700 Less cost of goods sold Gross profit $ 140,800 Operating and interest expenses General and administrative Interest $ 29,800 10,000 30,200 Depreciation Total operating and interest expenses $ 70,000 Earnings before taxes $ 70,800 28,320 Taxes Net income available to common stockholders $ 42,480 31,700 Cash dividends $ 10.780 Change in retained earnings emplete) HW Score: Problem 3-16 (similar to) (Working with financial statements) Based on the balance sheet, B9, and income statement, for T. P. Jarmon Company for the year ended December 31, 2018 a. How much is the firm's net working capital and what is the debt ratio? b. Complete a statement of cash flows for the period. c. Compute the changes in the balance sheets from 2017 to 2018 a. How much is the firm's net working capital and what is the debt ratio? The net working capital is $ 62,780. (Round to the nearest dollar.) The debt ratio is 55 %. (Round to one decimal place.) b. Complete a statement of cash flows for the period. Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE Input cash inflows as positive values and cash outflows as negative value Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE Input cash inflows as positive values and cash outflows as negative values Statement of Cash Flows Cash flows from Operating Activities Net income $ 42,480 Adjustments Depreciation S 30,200 Increase in marketable securities 300 Decrease in accounts receivable 8.900 200 Prepaid expenses Increase in inventories (less A/P) -32,080 -1,200 Decrease in accruals Net cash provided by operating activities 57,000