There are multiple parts to questions $(1-10)$ Do all calculations using $9$ decimal places, retain the $9$ decimal places throughout the calculations, then when you report answers round to $2$ decimal places. Examples: If the answer is in years: i$.$e$.,9\mathrm{.}5576$ report $9\mathrm{.}56$ years. If the answer is in dollars, i$.$e$.,$ $$56\mathrm{.}987\mathrm{.}555$ report to the nearest cent $$56,987\mathrm{.}56.$ If the answer is in percentage terms i$.$e$.,10\mathrm{.}4478\%$ report $10\mathrm{.}45\%$ If the answer is in times i$.$e$.,4\mathrm{.}783$ report $4\mathrm{.}78$ times. You need to be very precise with rounding

and reporting. For instance, if the answer is $9$ times you must report $9\mathrm{.}00$everything must be carried or rounded to two decimal places. Another example, if the answer is $$48,000,$ you must report $48,000\mathrm{.}00.$

Problems $1-4$ use the following balance sheet and income statement data $($Balance sheet and income statement is pictured$)$

Got It Right Corporation

Balance Sheets as of December $31,$ PY and CY

Problem $1$: Calculate the following short$-$term solvency ratios for Got It Right. $($Use year$-$end figures rather than average values when appropriate$)$

$1$a$.$ The Current Ratio for the year PY is $\_\_\_\_\_$times.

$1$b$.$ The Quick Ratio for the year PY is $\_\_\_\_\_$times.

$1$c$.$ The Cash Ratio for the year CY is $\_\_\_\_\_$times.

Problem $2$: Calculate the following Asset Utilization ratios for Got It Right. $($Use year$-$end figure rather than average values when appropriate$)$

$2$a$.$ The Total asset turnover for the year CY is $\_\_\_\_\_$times.

$2$b$.$ The Inventory turnover for the year CY is $\_\_\_\_\_$times.

$2$c$.$ The Receivables turnover for the year CY is $\_\_\_\_\_$times. Problem $3$: Calculate the following Long$-$term solvency ratios for Got It Right. $($Use year$-$end figures rather than average values when appropriate$)$

$3$a$.$ The Total Debt Ratio for the year PY is $\_\_\_\_\_$times.

$3$b$.$ The Debt$-$Equity Ratio for the year PY is $\_\_\_\_\_$times.

$3$c$.$ The Equity Multiplier for the year PY is $\_\_\_\_\_$times.

$3$d$.$ The Times Interest Earned Ratio for the year CY is $\_\_\_\_\_$times.

$3$e$.$ The Cash coverage ratio for the year CY is $\_\_\_\_\_$times.

Problem $4$: Calculate the following Profitability ratios for Got It Right. $($Use year$-$end figures rather than average values when appropriate$)$

$4$a$.$ The Profit margin for the year CY is $\_\_\_\_\_\%$

$4$b$.$ The Return on assets for the year CY is $\_\_\_\_\_\%$

$4$c$.$ The Return on equity for the year CY is $\_\_\_\_\_\%$

Problem $5$: Golden Egg Corporation has ending inventory for the year CY of $ $290,000.$ The Cost of goods sold for the year CY are $ $3,100,000.$

$5$a$.$ The Inventory Turnover for Golden Egg Corporation is $\_\_\_\_\_$times.

$5$b$.$ The days' sales in inventory is $\_\_\_\_\_\_\_$days.

Problem $6$: Paul$$s Power Tools, Inc. had a Debt ratio of $44\mathrm{.}00\%.$

$6$a$.$ The debt$-$to$-$equity ratio for Paul$$s Power Tools is $\_\_\_\_\_$times.

$6$b$.$ The equity multiplier for Paul's Power Tools is $\_\_\_\_\_\_\_\_$times.

Problem $7$: Timeless Tycoons, Inc. had an equity multiplier that was $1\mathrm{.}8$ times. Their total asset turnover was $0\mathrm{.}76$ times and their profit margin was $12\mathrm{.}00\%$ for CY$.$Their ROE for CY was $\_\_\_\_\_\%$

Problem $8$:

Wally$$s Walkers and Whatnot Products has a profit margin of $12\mathrm{.}00\%,$ sales of $ $2,000,000,$debt of $ $700,000,$ total assets of $ $3,150,000.$ The ROA for Wally's is $\_\_\_\_\%$ Problem $9$:

Complete the following income statement for Pa Bell Corporation:

Problem $9$:

Pa Bell Corporation

Sales $ $652,500$

Cost of Goods Sold $350,640$ $

Depreciation $100,000$ $

Interest $ $120,000$

Tax Rate $40\%$

Taxes

Net Income $(9$a$)$

Dividends $ $25,000$

Addition to Retained Earnings $(9$b$)$

$9$a$.$ The net income for Pa Bell is $$\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$9$b$.$ The Addition to Retained Earnings for Pa Bell is $$\_\_\_\_\_\_\_\_\_\_\_\_.$

Problem $10$:

$4$EM$,$ Inc., has Sales of $$1,900,000,$ total assets of $$1,460,000,$ and a Debt$-$to$-$Equity ratio of $1.$

If its ROE is $18\mathrm{.}00\%$ then its net income is $$\_\_\_\_\_$