The following are the financial statements of Parker Company for the year ended December 31, 2023...

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The following are the financial statements of Parker Company for the year ended December 31, 2023 All sales were on credit PARKER COMPANY Balance Sheet December 33, 2823 Liabilities and Equity Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Sales PARKER COMPANY Income Statement $ 15,000 Accounts payable 8,600 Accrued wages payable 30,00 Income taxes payable 36,150 Long-term note payable, secured by mortgage on plant assets 3,05a Common stock 154,300 Retained earnings $ 248,500 Total liabilities and equity For the Year Ended December 31, 2023 Cost of goods sold Gross profit Operating expenses Interest expense Incone before taxes Income tax expense Net income $ 456,600 296,958 159,650 39,400 4,500 55,750 22.458 $33,292 $18,500 4,200 4,70 78,400 85,000 66,100 $ 248,900 Important note: In order to complete some parts of this problem you will also need to use Parker's selected balance sheet amounts at December 31, 2022 (the prior year) as follows: Inventory. $48.900 Total assets. $219.400, . Common stock, $85,000; and .Retained earnings. $32,808 Required: Use the information presented above to compute the following (current ratio. (2) acid-test ratio, (3) days' sales uncollected. (4) Inventory turnover. (5) days' sales in inventory. (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio. (9) total asset turnover, (10) return on total assets, and (1) return on equity. (Do not round Intermediate calculations.) Helpful hints: Page 517 in your textbook would be a very helpful reference. Also, for each ratio you will be completing two lines: On the first line, use the drop-down to select the formula's numerator and denominator On the second line, put in the correct numbers from the financial information presented above Connect will do the actual calculation for you Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Req 5 Rea 6 Beg 7 Reg Red 9 Req 10 Req 11 Compute the current ratio and acid-test ratio. (1) Numerator Current Ratig Denominator Current Ratio Current ratio to 1 (2) Acid-Test Ratio Numerator Denominator: Asid-Test Ratio Acid-Test Ratio The following are the financial statements of Parker Company for the year ended December 31, 2023 All sales were on credit PARKER COMPANY Balance Sheet December 33, 2823 Liabilities and Equity Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Sales PARKER COMPANY Income Statement $ 15,000 Accounts payable 8,600 Accrued wages payable 30,00 Income taxes payable 36,150 Long-term note payable, secured by mortgage on plant assets 3,05a Common stock 154,300 Retained earnings $ 248,500 Total liabilities and equity For the Year Ended December 31, 2023 Cost of goods sold Gross profit Operating expenses Interest expense Incone before taxes Income tax expense Net income $ 456,600 296,958 159,650 39,400 4,500 55,750 22.458 $33,292 $18,500 4,200 4,70 78,400 85,000 66,100 $ 248,900 Important note: In order to complete some parts of this problem you will also need to use Parker's selected balance sheet amounts at December 31, 2022 (the prior year) as follows: Inventory. $48.900 Total assets. $219.400, . Common stock, $85,000; and .Retained earnings. $32,808 Required: Use the information presented above to compute the following (current ratio. (2) acid-test ratio, (3) days' sales uncollected. (4) Inventory turnover. (5) days' sales in inventory. (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio. (9) total asset turnover, (10) return on total assets, and (1) return on equity. (Do not round Intermediate calculations.) Helpful hints: Page 517 in your textbook would be a very helpful reference. Also, for each ratio you will be completing two lines: On the first line, use the drop-down to select the formula's numerator and denominator On the second line, put in the correct numbers from the financial information presented above Connect will do the actual calculation for you Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Req 5 Rea 6 Beg 7 Reg Red 9 Req 10 Req 11 Compute the current ratio and acid-test ratio. (1) Numerator Current Ratig Denominator Current Ratio Current ratio to 1 (2) Acid-Test Ratio Numerator Denominator: Asid-Test Ratio Acid-Test Ratio