The following ratios have been computed for Mason Company for 2017. 12.5 % Profit margin 8 times Times interest earned Receivables turnover 4 times 2:1 Acid-test ratio 3:1 Current ratio 20 % Debt to assets ratio Use the above ratios and information from the Mason Company financial statements to fill in the missing information on the financial statements. Mason Company's 2017 financial statements with missing information follow: MASON COMPANY Comparative Balance Sheet December 31 2016 2017 Assets $30,000 $ 45,000 Cash 25,000 10,000 Short-term investments 60,000 40,000 Accounts receivable (net) 50,000 50,000 Inventory Property, plant, and equipment (net) 200,000 160,000 350,000 $320,000 Total assets Liabilities and stockholders' equity 10,000 $30,000 Accounts payable 40,000 35,000 Short-term notes payable 20,000 40,000 Bonds payable 200,000 200,000 Common stock 60,000 35,000 Retained earnings 350,000 $320,000 Total liabilities and stockholders' equity MASON COMPANY Income Statement For the Year Ended December 31, 2017 Net sales $200,000 Cost of goods sold 75,000 Gross profit 125,000 Expenses Depreciation expense $ Interest expense 5,000 Selling expenses 8,000 Administrative expenses 12,000 Total expenses Income before income taxes Income tax expense Net income $ LA