The income statement and consolidated balance sheets for Front Row Entertainment follow.
Front Row Entertainment Inc.
Consolidated Balance Sheets

Front Row Entertainment Inc.
Income Statement
For the year ended December 31, 2020
Revenues:
Sales revenue ...................................................... $3,142,800
Service revenue ........................................................ 636,000
Total revenues ..................................................... $3,778,800
Expenses:
Artist Fee Expense ..................................................... $2,134,260
Rent expense ................................................................ 952,663
Cost of goods sold ........................................................... 74,800
Salaries and wages expense .............................................. 345,100
Depreciation expense ...................................................... 51,675
Interest expense ............................................................ 98,087
Income taxes expense .................................................... 22,000
Other expenses ............................................................ 26,550
Total expenses ........................................................ $3,705,135
Net income ................................................................ $ 73,665
Additional information:
€¢ The market price of the common shares at the end of the year is $17.55 per share.
€¢ The average number of common shares outstanding for 2020 is 16,400.
€¢ The dividends per common share for 2020 were $25,000, which is approximately $1.45 per share ($25,000/17,300 common shares). The 17,300 shares can be calculated from information in Chapter 10 (16,000 shares at Jan. 1, 2020 þ 2,000 shares issued on June 15, 2020 - 700 shares repurchased on July 10, 2020).
€¢ Common stock repurchases for 2020 were $11,200. This is taken from Chapter 10 as 700 common shares were repurchased as treasury stock at a cost of $16 per share.
€¢ Cash flows used in operating activities for 2020 were ($77,783).
€¢ Preferred dividends for 2020 were $0.
Required:
1. Calculate the short-term liquidity ratios for Front Row for 2020.
2. Calculate the debt management ratios for Front Row for 2020.
3. Calculate the asset efficiency ratios for Front Row for 2020.
4. Calculate the profitability ratios for Front Row for 2020.*
5. Calculate the stockholder ratios for Front Row for 2020.

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December 31 ASSETS 2020 2019 Current assets: Cash $ 30,322 98,250 133,400 2,200 61,380 $ 325,552 $ 9,005 17,000 57,200 3,700 2,850 $89,755 Accounts receivable, net Prepaid expenses Supplies Inventory Total current assets Property, plant, and equipment: Building Equipment Accumulated depreciation Trademark Total assets 1,857,250 27,350 (53,835) 25,000 $2,181,317 7,000 (2,160) $94,595 LIABILITIES AND EQUITY Current liabilities: Accounts payable Salaries payable Interest payable Uneamed sales revenue Income taxes payable Notes payable (short-term) 2,450 2,500 40,917 1,780 $12,240 3,690 2,250 28,650 2,180 550 8,000 Total current liabilities $ 56,197 $49,010 Long-tem liabilities: Notes payable Bonds payable, net Less: Discount on bond payable Total long-tem liabilities Equity: Preferred stock Common stock $ 405,000 1,500,000 (109,530) $25,000 $1,795,470 $25,000 $ 150,000 18,000 16,000 Additional paid-in capital: Preferred stock Common stock Treasury stock Retained earnings Less: Treasury stock Total stockholders' equity Total liabilities and equity 75,000 38,000 1,800 53,250 (6,400) $ 329,650 $2,181,317 4,585 $20,585 $94,595