tstar ke to gain a better understanding of Trust Corporation's financial position. Assume all Requirement turi ou in the po Income Statement For the Year Ended December 31, 2017 (amounts in thousands) 2017 Sales revenue $ 15,695 Less: Cost of goods sold 5,940 Gross profit $ 9.755 Less: Operating expenses 7.255 Operating income $ 2,500 Less: Interest expense 100 Income before income taxes $ 2.400 Less: Income tax expense 200 S 2.200 Net Income Calculate the following ratios for 2017 and interpret the results: a. Inventory turnover b. Days' sales in receivables c. Acid-test ratio d. Times-interest-earned e. Gross profit percentage f. Operating income percentage g. Return on stockholders' equity h. Earnings per share i. Pricelearnings ratio ds ail Print Done Print Done Balance sheet ts Balance Sheets December 31, 2017 and 2016 (amounts in thousands) 2017 2016 -W or Assets Current assets: Cash GA 2,950 $ 2.500 Accounts receivables 3.300 2.720 Inventory 2.200 3.050 1.400 1.480 Other current assets Total current assets $ 11.500 5 20.500 8.100 16.000 Other assets Total assets $ 32.000 $ 24 100 hen Print Done Balance sheet V ts Total current assets $ 11,500 $ 20,500 8,100 16,000 Other assets Total assets $ 32,000 $ 24,100 op Liabilities Total current liabilities $ 11,000 12,500 $ 11.500 3.500 Long-term liabilities Total liabilities $ 24.000 $ 14.500 Stockholders' equity Total common stockholders' equity 8.000 9.600 Total liabilities and equity S 32.000 $ 24 100 hen Print Done