The following financial statements apply to Cowboy Ice Cream Company Year 2 $ 220,800 Year S181,800 125,900 20.800 9.900 2.400 19.000 178,000 $2,800 101,100 18.800 8.900 2.400 17.200 148.400 $33,400 S Revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expenne Total expenses Net Income Asset Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current sets plant and eguipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (40,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S 5,800 1,200 35,500 101,400 3.300 147,200 105,600 20.900 $ 273,700 $ 6.700 1,200 31,200 95.400 2.300 136, 800 105,600 0 $ 242,400 $ 38,800 15,100 53,900 64,200 118,100 $ 35,200 15, 100 50,300 65,200 115,500 114,900 40,700 155,600 $ 273,700 114,900 12,000 126,900 $ 242,400 Held Required Calculate the following ratios for Year 1. Since opening balance numbers are not presented do not use averages when calculating the ratios for Year 1. Instead, use the number presented on the Year 1 balance sheet a. Net margin (Round your answers to 2 decimal places.) b. Return on investment. (Round your answers to 2 decimal places.) c. Return on equity. (Round your answers to 2 decimal places.) d. Times interest earned. (Round your answers to 2 decimal places:) e. Working capital 1. Current ratio. (Round your answers to 2 decimal places.) 9. Quick (acid-test) ratio. (Round your answers to 2 decimal places.) h. Accounts receivable turnover (Round your answers to 2 decimal places.) Inventory turnover (Round your answers to 2 decimal places.) J. Debt-to-equity ratio. (Round your answers to 2 decimal places.) k. Debt-to-assets ratio. (Round your answers to the nearest whole percent.) Your b % d times Ne margin Return on investment Return on equity Times interest earned Working capital Current ratio Quick (acid-test) ratio Accounts receivable turnover Inventory tumover Debt-to-equity ratio Debt-to-assets ratio 9 h times times k