(Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Kronlokken Company from the scrambled list of items shown in the popup window, a. What is the firm's net working capital and debt ratio? b. Complete a common-sized income statement and a common-sized balance sheet. c. Interpret your findings. Complete the part of the balance sheet below: (Round to the nearest dollar.) Kronlokken Company Balance Sheet (Cont'd) LIABILITIE S AND EQUITY Liabilities $ Total current liabilities Total liabilities $ Equity Total equity \$ Total liabilities and equity S $ a. What is the firm's net working capital and debt ratio? The net working capital is \$ (Round to the nearest dollar.) The debt ratio is %. (Round to two decimal places.) b. Complete a common-sized income statement and a common-sized balance sheet. Common-sized Kronlokken Company Balance Sheet ASSETS Complete this part of the common-sized balance sheet: (Round the percentages to one decimal place.) marketing, or any business major. "The common-sized balance sheet shows how the firm's assets have been allocated and how the assets have been financed in terms of debt versus equity." Are the above statements true or false? (Select from the drop-down menu.) (Click on the following icon in order to copy its contents into a spreadsheet.)