th e CD mu In Income Statement Tanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses $ 460,000 $425,000 239,000 214,000 221,000 211,000 138,000 136,000 Income From Operations 83,000 75,000 9,000 Interest Expense 15,000 Income Before Income Tax 74,000 60,000 21,000 Income Tax Expense 25,000 $ 53,000 $ 35,000 Net Income Print Done X Tanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022" Assets Current Assets: Cash $ 91,000 $ 89,000 Accounts Receivables, Net 112,000 114,000 $ 107,000 Merchandise Inventory 144,000 163,000 204,000 16,000 8,000 Prepaid Expenses Total Current Assets 363,000 374,000 Property, Plant, and Equipment, Net 211,000 176,000 $ 574,000 $ 550,000 Total Assets $601,000 Liabilities Total Current Liabilities $ 224,000 $ 242,000 Balance Sheet Merchandise Inventory Prepaid Expenses 144,000 163,000 204,000 16,000 8,000 Total Current Assets 363,000 374,000 211,000 Property, Plant, and Equipment, Net 176,000 $ 574,000 $ 550,000 Total Assets $601,000 Liabilities Total Current Liabilities Long-term Liabilities. Total Liabilities $ 224,000 $ 242,000 122,000 100,000 346,000 342,000 Stockholders' Equity Preferred Stock, 6% 106,000 106,000 Common Stockholders' Equity, no par 122,000 102,000 91,000 $ 574,000 $ 550,000 Total Liabilities and Stockholders' Equity * Selected 2022 amounts - X by s Additional Financial Information nt ra 1. Market price of Tanfield's common stock: $88.06 at December 31, 2024, and $53.70 at December 31, 2023.1 2. Common shares outstanding: 10,000 on December 31, 2024 and 8,000 on December 31, 2023 and 2022 3. All sales are on credit. Print Done - X Requirements 1 - - X 1. Compute the following ratios for 2024 and 2023: 2. a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio Decide (a) whether Tanfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. Print Done