TON 40 What is the firm's current ratio? Exhibit for questions # 40-50 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over Balance Sheet (Millions of $) Assets Cash and securities 2015 $ 2,500 Accounts receivable Inventories Total current assets 11,500 16,000 $30,000 $20,000 $50,000 Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities $ 9,500 5,500 __7000 $22,000 Long-term bonds Total liabilities Common stock $15.000 $37,000 $ 2,000 Retained camings Total common equity Total liabilities and equity 11.000 $13,000 $50,000 Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Eamings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes 2015 $87,500 81,813 1331 $ 4,156 _1375 S 2,781 Net income 973 S 1,808 Other data Shares outstanding (millions) Common dividends Intrate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 500.00 $632.73 6.25% 35% $43.39 O a 0.99 b.1.10 Oc. 1.23 O d. 1.36 De 1.50