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The balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations, the year ended October 31 , 2024

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The balance sheet and income statement of Cookie \& Coffee Creations Inc. for its first year of operations, the year ended October 31 , 2024 , follows. Current Liabilities Accounts payable Income tax payable Dividends payable Salaries and wages payable Interest payable Note payable-current portion \begin{tabular}{rr} $4,977 \\ 15,910 & \\ 602 & \\ 1,935 & \\ 215 & $27,079 \\ 3,440 & \\ \hline \end{tabular} Long-term Liabilities Note payable-long-term portion Total liabilities 32,2395,160 Stockholders' Equity Paid-in capital Preferred stock, 2,408 shares issued and outstanding $12,040 Common stock, 22,301 shares issued, 21,656 outstanding 22,301 Retained earnings Total paid-in capital and retained earnings Less: Treasury stock-common ( 645 shares), at cost Total stockholders' equity Total liabilities and stockholders' equity 96,347 Additional information: Natalie and Curtis are thinking about borrowing an additional $20,000 to buy more equipment. The loan would be repaid over a 4year period. The terms of the loan provide for equal semiannual installment payments of $2,500 on May 1 and November 1 of each year, plus interest of 5% on the outstanding balance. Dividends on preferred stock were $1,400. Since this is the first year of operations and the beginning balances are zero, use the ending balance as the average balance where appropriate. Calculate the following ratios. (Round time interest earned to 0 decimal places and all answers to 1 decimal place, e.g. 2.2 or 2.2%.) 1. Current ratio :1 2. Accounts receivable turnover times 3. Inventory turnover times 4. Debt to assets 25% 5. Times interest earned times 6. Gross profit rate 50% 7. Profit margin % 8. Asset turnover times 9. Return on assets % 10. Return on common stockholders' equity %

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