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Problem #1 (30 marks) Prepare a ratio analysis for Halifax Sports Inc, using an excel spreadsheet. The firm has 2 million shares authorized and has 1 million shares issued and outstanding. 1 Halifax Sports Inc Balance Sheet (5000) Halifax Sports Inc Balance Sheet (5000) ASSETS Current Assets 2020 2020 2019 Sales Revenues Cost of Goods Sold 160,000 96,000 2019 125,000 75,000 50,000 Cash 485 9,000 64,000 10 Contribution Margin Operating Expenses 5 Salaries Short-term Investments Cert. of Deposit Accounts Receivable Inventory Total Current Assets Land Buildings and Equipment Accumulated Amortization Net Plant & Equipment 16,000 45 500 62,000 26,000 100,000 12,500 29 000 50,500 20,000 70,000 Wages General/Admin Amort/Depr. 11,000 16,000 10,000 10,000 6,100 11,000 12,500 10,000 4,500 3,000 Interest 38,000 Earnings B4 Taxes 9,000 4,500 10,900 5,450 28.000 62,000 112,500 88,000 Taxes 5,450 Eamings After tax 4,500 150,000 TOTALASSETS UABILITIES and SHAREHOLDERS' EQUITY Current Uabilities Accounts Payable 22,000 Bank Note 40,000 Taxes Payable 2,500 Accrued Expenses 4,500 Total Current Uabilities 69,000 Long Term Debt First Mortgage Bonds 20,000 Debenture Bonds 2,950 Total Liabilities 22,950 10,500 10,000 2,000 5,000 27,500 22,000 6,750 28,750 Equity Common Shares Retained Earnings 31,500 26,550 58,050 31,500 24,750 56,250 Total Equity 58,050 56,250 a) Using an excel spreadsheet calculate the following for both years: 30 marks NOTE: the use of the excel spreadsheet is mandatory and the excel spreadsheet must be embedded in the word document. Submitting a separate file to the spreadsheet is not acceptable. If the spreadsheet is not used, a mark of 0 will be applied to the question! 2 Ratio Formula Values Industry Calculation Average 4.20 Current Ratio 2.10 9.86 37.00 Quick Ratio Recelvables turnover Day's Sales in Recievables Inventory Turnover Day's Sales in Inventory Debt to Total Assets 2.50 146,00 58.00% 3.80 Times Interest Earned 1.14 1.40 4.00% Total Asset Turnover Fixed Asset Turnover Return on Total Assets Return on Equity Gross Profit Margin Operating Profit Margin Profit Margin 15.00% 38.00% 10.00% 3.50% You need to show your work for your calculations. For example Equity Multiplier Assets 150,000 Equity 58,050 2.584