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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 . 2021

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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 . 2021 , follows. Accumulated depreciation-furniture and fixtures Computer equipment Accumulated depreciation-computer equipment Kitchen equipment (600) 3,600 Accumulated depreciation-kitchen equipment Total assets (2,050)$155,46626,950 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income tax payable Dividends payable 700 Salaries and wages payable 2,250 Interest payable 188 Note payable-current portion Long-term liabilities Long-term liabilities Note payable-long-term portion Total liabilities 38,6766,000 Stockholders' equity Paid-in capital Preferred stock, 2,800 shares issued and outstanding $14,000 Common stock, 25,930 shares issued, 25,180 outstanding 25,93039,930 Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (750 common shares) Total stockholders' equity Total liabilities and stockholders' equity \begin{tabular}{rr} 117,29077,360 \\ \hline & $155,466116,790 \\ \hline \end{tabular} COOKIE \& COFFEE CREATIONS INC. Income Statement Year Ended October 31, 2021 Sales revenue $462,500 Cost of goods sold Gross profit 231,250231,250 Operating expenses Salaries and wages expense $92,500 \begin{tabular}{l|l} Depreciation expense & 3.900 \end{tabular} Other expenses \begin{tabular}{lr} Interest expense & 413 \\ \cline { 2 } Income before income tax & 98,450 \\ Income tax expense & 19,690 \\ \hline Net income & $78,760 \end{tabular} Additional information: Natalie and Curtis are thinking about borrowing an additional $20,000 to buy more kitchen equipment. The loan would be repaid over a 4 -year period. The terms of the loan provide for equal semiannual installment payments of $2,500 on May 1 and Noveriaer 1 of each year, plus interest of 5% on the outstanding balance. (a) Calculate the following ratios (use ending balances in place of averages, where necessary): (Round current rotio to 2 decimal ploces, es. 1.68:1. Round times interest earned to O decimal ploces, eg. 125. Round percentages to 1 decimal ploce, es. 121% and round other answers to 1 decimal place, eg. 12.1.) 3. Inventory turnover times 4. Debt to assets % 5. Times interest earned times 6. Gross profitrate % 7. Profit margin % 8. Asset turnover times 9. Return on assets % 10. Return on common stockholders' equity %

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