Use the Company in answering questions Louise Company Comparative Balance Sheets December 31, 20X1 and 20x2 20X1 20x2 Assets Cash $61,100 $ 27,200 Accounts Receivable (ned 72,500 142,700 Inventory 122,600 107,800 Property, Plant, and Equipment (net) 577.700 507-500 Copyright 2014 Pearson Education, Inc, Publishing a Prentice Hall 7. Total Assets $833.900 $285.200 Liabilities and Stockholders' Equity Accounts Payable $104,700 $ 72,300 Notes Payable within one year 50,000 50,000 Bonds Payable 200,000 210,000 Common Stock-$10 par value 300,000 300,000 Retained Farmingp 179.200 159.900 Total Liabilities and Stockholders Equity $833.900 $78.5.200 Louise Company Comparative Income Statements For the Years Ended 12/31/X1 and 12/31/X2 20X2 20X1 Sales $ 800,400 $900,000 Cost of Goods Sold 454,100 396,200 Gross Profit $346,300 $.503,800 Operating Expenses Selling Expenses $130,100 $104,600 Administrative Expenses 40,300 115,500 Interest Expense 25,000 20,000 Income Tax Expense 14,000 35,000 Total Operating Expenses $209,400 $275.100 Net Income $136.900 $ 71.300 The Louise Company's current ratio for 20X2 was 272 8. a 1.66 b. 5.39 C 1.23 d. 1.00 total debt Louise Company's total debt to equity ratio lus a. decreased from 0.74 to 0.73 from 20X1 to 20X2 b. G d. 9. increase from 0.73 to 0.27 from 20X1 to 20X2 decrease from 0.32 to 0.74 from 20X1 to 20X2 increased from 0.27 to 0.32 from 20X1 to 20X2 Louise Company's gross profit rate for 20X1 was, b. 55.98% a 20.58% total equ c. 16.65% d. 61.92% Copyright 2014 Prac