Using the financial statements of Jet Boat Ltd$.,$ calculate the $13$ basic ratios. $($Use $365$ days in a year. Round the answers in days to whole number and round the answers in dollars to whole dollars. Round all other final answers to $2$ decimal places.$)$Using the financial statements of Jet Boat Ltd$.,$ calculate the $13$ basic ratios. $($Use $365$ days in a year. Round the answers in days to whole number and round the answers in dollars to whole dollars. Round all other final answers to $2$ decimal places.$)$

JET BOAT LTD$.$

Balance Sheet

December $31,20$XX

Assets

Current assets:

Cash $ $40,000$

Marketable securities $85,000$

Accounts receivable $($net$)100,000$

Inventory $375,000$

Total current assets $600,000$

Net plant and equipment $600,000$

Total assets $ $1,200,000$

Liabilities and Shareholders$$ Equity

Current liabilities:

Accounts payable $ $100,000$

Bank loans $125,000$

Accrued expenses $25,000$

Total current liabilities $250,000$

Long$-$term liabilities:

Bonds payable$*500,000$

Total liabilities $750,000$

Shareholders$$ equity:

Common stock $350,000$

Retained earnings $100,000$

Total shareholders$$ equity $450,000$

Total liabilities and shareholders$$ equity $ $1,200,000$

$*$Sinking fund provision of $$50,000$ a year.

JET BOAT LTD$.$

Income Statement

Year ending December $31,20$XX

Sales $($on credit$)$ $ $2,900,000$

Less: cost of goods sold $2,465,000$

Gross profit $435,000$

Selling and administrative expenses $250,000$

Operating profit $($EBIT$)185,000$

Interest expense $94,000$

Earnings before taxes $($EBT$)91,000$

Taxes $(20\%)18,200$

Earnings after taxes $($EAT$)$ $ $72,800$

Profit margin

$\%$

Return on assets $($investment$)$

$\%$

Return on equity

$\%$

Average daily sales $

Average daily COGS $

Accounts payable turnover

Accounts payable period

days

Capital asset turnover

$\backslash$times

Current ratio

Quick ratio

Debt to total assets

$\%$

Times interest earned

$\backslash$times

Fixed charge coverage

$\backslash$times