This activity will help you meet these educational goals: Content Knowledge-You will analyze financial statements for liquidity, solvency, and profitability. 21 Century Skills-You will use critical thinking and problem-solving skills, and communicate effectively. Introduction In this activity, you will analyze the annual financial statements of Gerup Garments Inc., an apparel-manufacturing corporation. You will use solvency, liquidity, and profitability ratios to determine the firm's financial condition. Directions and Analysis Analyze the income statement and balance sheet of Gerup Garments Inc. and perform the assigned tasks. Income Statement for Gerup Garments Inc. for 2015 Jan- 15 Feb- Mar- Apr- May- Jun- 15 15 15 15 15 Jul-15 Aug- 15 Sep- 15 Oct- 15 Nov- 15 Dec- 15 YEARLY Revenue (Sales) Garment 205,6 Sales 84 Accessory 15,54 Sales 3 209,7 22 15,54 2 241,1 80 246,0 04 238,6 24 15,54 2 17,87 3 18,23 I 229,0 79 17,68 4 233,6 60 16,97 G 245,3 44 17,31 6 247,7 97 18,18 2 252,7 53 18,36 4 278,0 28 18,73 1 361,4 2,989,3 37 20,60 4 12 210,58 8 Total Revenue 221,2 (Sales) 27 225,2 64 256,7 22 263,8 77 256,8 55 246,7 63 250,6 37 262,6 60 265,9 79 271,1 17 296,7 59 382,0 41 3,199,9 00 Cost of Sales Garments 51,42 3 52,44 6 51,92 5 59,71 4 60,90 8 59,08 1 56,71 8 57,85 2 60,74 4 61,35 2 62,57 9 68,83 7 703,57 8 Accessori 10,45 106,85 es 7,771 7,991 Total Cost 59,19 60,43 7,887 59,81 9,070 9,251 68,78 70,15 8,974 68,05 of Sales 4 7 2 4 9 4 8,615 65,33 2 8,787 66,63 9 9,226 9,319 9,505 S 0 69,97 1 70,67 1 72,08 4 79,29 810,42 2 8 Gross 162,0 164,8 196,9 195,0 186,6 178,7 185,3 196,0 196,0 200,4 224,6 302,7 2,389,4 1 admantum MICHVI