Using the financial statements given, compute the following ratios for both companies for 2019 and 2018. Assume all sales are credit sales. Round all ratios to two decimal places.

	a.	Current ratio
	b.	Cash ratio
	c.	Inventory turnover
	d.	Accounts receivable turnover
	e.	Gross profit percentage
	f.	Debt ratio
	g.	Debt to equity ratio
	h.	Profit margin ratio
	i.	Asset turnover ratio
	j.	Rate of return on common stockholders' equity
	k.	Earnings per share
	l.	Price/earnings ratio
	m.	Dividend yield
	n.	Dividend payout

Requirements 1. Record the issuance of the $25,000 note payable on September 1, 2019. 2. Record the employee payroll and employer payroll tax entries on September 30, 2019 3. Record all payments related to September's payroll. Payments are made on October 15, 2019. 4. Record the entry to accrue interest due on the note at December 31, 2019. 5. Record the entry Better Boat Company would make to record the payment to the bank on September 1, 2020. O Data Table The Boat Company Comparative Financial Statements Years Ended December 31, 2019 2018 2017 Safety Life Vests Comparative Financial Statements Years Ended December 31, 2019 2018 2017 Income Statement Net Sales Revenue $ $ 430,024 $ 258,392 425,830 256,817 410,400 $ 299,120 383,440 280,780 Cost of Goods Sold Gross Profit Operating Expenses Operating Income 171,632 153,220 169,013 151,215 111,280 78,840 102,660 70,610 18,412 890 17,798 710 32,440 2,740 32,050 2,930 Interest Expense Income before Income Tax 17,522 5,104 12,418 $ 17,088 4,220 29,700 8,760 29,120 8,640 Income Tax Expense $ 12,868 $ 20,940 $ 20,480 Net Income Balance Sheet Assets Cash and Cash Equivalents Accounts Receivable Merchandise Inventory $ 44,110 68,630 $ 44,790 79,870 16,110 70,723 44,460 $ 66,390 16,317 65,249 $ 39,860 68,520 24,821 55,580 38,640 $ 65,280 37,250 36,400 59,900 76,310 Other Current Assets Total Current Assets 209,400 90,368 197,890 90,390 198,450 116,760 196,750 116,538 Long-term Assets Print Done