These questions relate to the Integrated Analytics Case: Bene Petit. Select the appropriate eBook link to open the Case Overview, Case Background, and Part 5: Performance Evaluation and Analysis.

The following is a summary of financial results for the first three years of Bene-petites operations. Use the provided spreadsheet to evaluate Bene Petits financial performance in terms of profitability and solvency during the first three years of operations, including profitability measures, liquidity measures, and solvency measures.

Part 5a (student spreadsheet).xlsx

Balance Sheet	2024	2023	2022
Cash	$ 67,000	$ 42,000	$ 38,000
Accounts Receivable, Net	20,000	25,000	18,000
Raw Materials Inventory	12,000	30,000	16,000
Prepaid Expenses	7,500	10,500	2,000
Other Current Assets	3,000	3,500	2,000
Total Current Assets	$ 109,500	$ 111,000	$ 76,000
Propert Plant and Equipement, Net	640,000	790,000	270,000
Total Assets	$ 749,500	$ 901,000	$ 346,000
Current Liabilities	$ 80,000	$ 80,000	$ 90,000
Long - Term Liabilities	350,000	500,000	140,000
Total Liabilities	430,000	580,000	230,000
Ownership Interst	250,000	300,000	109,000
Retaining Earnings	69,500	21,000	7,000
Total Stockholder's Equity	319,500	321,000	116,000
Total Liabilities and Stockholder's Equity	$ 749,500	$ 901,000	$ 346,000

Income Statement	2024	2023	2022
Sales revenue	$ 800,000	$ 560,000	$ 440,000
Cost of Goods sold	650,000	480,000	350,000
Gross Profit	150,000	80,000	90,000
Operating Expenses	40,000	20,000	70,000
Income from operations	110,000	60,000	20,000
Interest Expenses	10,000	31,000	8,000
Income before Income Tax Expense	100,000	29,000	12,000
Income Tax Expense	30,500	8,000	5,000
Net Operating Income	$ 69,500	$ 21,000	$ 7,000

Compute the following ratios for 2023 and 2024:

Note: Round your answer to the nearest whole percentage, followed by 2 decimal places. For example 0.09423 would be entered as 9.42%.