Table 3.1 in chapter 3 presents financial statements over the period 2014 through 2017 for R&E Supplies Inc.

A. Use these statements to calculate as many of the ratios in 2.2 as you can

Financial Statements for R&E Supplies, Inc. December 31,2014-2017 ($ thousands)
	Income Statements
	2014	2015	2016	2017
Net Sales	$ 11,190	$ 13,764	$ 16,106	$ 20,613
Cost of goods sold	$ 9,400	$ 11,699	$ 13,688	$ 17,727
Gross Profit	$ 1,790	$ 2,065	$ 2,416	$ 2,886
Expenses:
General, selling, and administrative expenses	$ 1,019	$ 1,239	$ 1,610	$ 2,267
Net interest expense	$ 100	$ 103	$ 110	$ 90
Earnings before tax	$ 671	$ 723	$ 696	$ 529
tax	$ 302	$ 325	$ 313	$ 238
Earnings after tax	$ 369	$ 398	$ 383	$ 291
	Balance Sheet
Current assets:
cash and securities	$ 671	$ 551	$ 644	$ 412
accounts receivable	$ 1,343	$ 1,789	$ 2,094	$ 2,886
inventories	$ 1,119	$ 1,376	$ 1,932	$ 2,267
prepaid expenses	$ 14	$ 12	$ 15	$ 18
total current assets	$ 3,147	$ 3,728	$ 4,685	$ 5,583
net fixed assest	$ 128	$ 124	$ 295	$ 287
total assets	$ 3,275	$ 2,852	$ 4,980	$ 5,870
Liabilities and Owner's Equity
Current liabilities
Bank Loan	$ 50	$ 50	$ 50	$ 50
Accounts payable	$ 1,007	$ 1,443	$ 2,426	$ 3,212
Current portion long-term debt	$ 60	$ 50	$ 50	$ 100
accrued wages	$ 5	$ 7	$ 10	$ 18
Total current liabilies	$ 1,122	$ 1,550	$ 2,536	$ 3,380
long-term debt	$ 960	$ 910	$ 869	$ 760
common stock	$ 150	$ 150	$ 150	$ 150
retained earnings	$ 1,043	$ 1,242	$ 1,434	$ 1,580
total liabilities and owner's equity	$ 3,275	$ 3,852	$ 4,980	$ 5,870