The following information is taken from the accounting records of XYZ Company for the year ended December 31, 2012: Prepare a multiple-step income statement for 2012. Prepare a retained earnings statement for 2012. Prepare a balance sheet for December 31, 2012. Calculate the following profitability ratios: Gross profit margin ratio Debt ratio Times interest earned Rate of return on assets ratio (Total assets as of 12-31-11 were $26,000) Earnings per share (500 shares outstanding) Price-to-earnings ratio with XYZ's average market price per share at $16.00. Do you estimate the stock price to be under or over-valued? Compute turnover ratios for A/R, inventory and A/P (2011 balances-A/R $12,000, inventory $11,000, A/P $2,000). Calculate the days in receivables, inventory and payables. Compute the operating cycle and cash cycle