The financial statements for the years 20x3 and 20x4 appear below.
			Gordan Corporation
			Balance Sheets
			December 31
						20X4	20X3
		ASSETS
Current Assets:
Cash						$330	$360
Accounts Receivable (net)						470	433
Inventory						430	390
Prepaid Expenses						120	160
	Total Current Assets					$1,350	$1,343
Property, Plant and Equipment						420	380
Long-Term Investments						10	10
Intangible Assets						530	510
	Total Assets					$2,310	$2,243
		LIABILITIES
Current Liabilities:
Accounts Payable						$500	$410
Accrued Expenses						200	50
Notes Payable: Short-Term						200	350
	Total Current Liabilities					$900	$810
Long-Term Liabilites						390	393
	Total Liabilities					$1,290	$1,203
		STOCKHOLDERS' EQUITY
Common Stock						$220	$220
Retained Earnings						$800	$820
	Total Stockholders' Equity					$1,020	$1,040
	Total Liabilities and Stockholders' Equity					$2,310	$2,243
			Gordan Corporation
			Income Statements
			For the Years Ended December 31
						20X4	20X3
Net Sales (all on credit)						$4,000	$3,600
Less: Cost of Goods Sold						-984	-895
Gross Profit						$3,016	$2,705
Operating Expenses:
Selling Expenses						1400	1330
General and Administrative Expenses						1252	1162
	Total Operating Expenses					$2,652	$2,492
		Net Income				$364	$213
REQUIRED:
1. Compute the ratios below (a through j) for the years 20X3 and 20X4.
SHOW THE ENTIRE FORMULA FOR EACH RATIO
ROUND EACH RATIO TO TWO DECIMAL PLACES
IDENTIFY WHICH YEAR HAS THE BETTER RATIO, 20X3 OR 20X4
EXAMPLE:
a. YEAR 2003: DEBT RATIO = $1,203/$2,243 = .54					BETTER
YEAR 2004: DEBT RATIO = $1,290/$2,310 = .56
a. Current Ratio
b. Acid-Test Ratio
c. Inventory Turnover (Inventory for 20X2 was $350)
d. Days'Sales in Inventory
e. Accounts Receivable Turnover (Accounts Receivable for 20X2 was $390)
f. Rate of Return on Common Stockholders' Equity (Common Stockholders' Equity for 20X2 was $990)
g. Debt to Equity Ratio
h. Profit Margin Ratio
i. Rate of Return on Total Assets (Total Assets for 20X2 was $2,100)
j. Asset Turnover Ratio (Total Assets for 20X2 was $2,100)