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, 20XX Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory $ 40.NO 85,000 100,000 375,000 Total current assets Net plant and equipment 600,00 600,000 Total assets $ 1,200.000 Liabilities and Shareholders' Equity Current liabilities! Accounts payable Bank loans Accrued expenses $ I 100,000 125,000 25, een 250,000 Total current liablities Long-term liabilities: Bonds payable" 500,000 Total liabilities 750,000 Shareholders' equity: Common stock Retained earnings 350,000 100,000 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, 20XX Sales (on credit) Less: cost of goods sold $ 2,900,000 2,465,000 Gross profit Selling and administrative expenses 435,000 1 250,000 Operating profit (EBIT) Interest expense 185,000 94,000 Earnings before taxes (EBT) Taxes (20%) 91,000 18,200 Earnings after taxes (EAT) ta 72,800 % % % $ $ I Profit margin Return on assets (investment) Return on equity Average daily sales Average daily COGS Accounts payable turnover Accounts payable period Capital asset turnover Current ratio Quick ratio Debt to total assets Times interest earned Fixed charge coverage days IX