The following ratios have been computed for Southern Company for 2014.

Profit margin ratio.......................20 %

Current ratio..............................2.5:1

Times interest earned...............12 times

Debt to assets ratio......................24 %

Accounts receivable turnover.......5 times

Use the above ratios and information from the Southern Company financial statements to fill in the missing information on the financial statements.

The 2014 financial statements for Southern Company with missing information follows:

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SOUTHERN COMPANY Comparative Balance Sheet December 31 2014 2013 Assets Cash Debt Investments Accounts receivable (net) Inventorv Property, plant, and equipment (net)200,000 Total assets Liabilities and stockholders' equity Accounts payable Short-term notes pavable Bonds payable Common stock Retained eamings Total liabilities and stockholders' equity S25,000 S35.000 15,00015,000 50,000 50,000 160,000 S15,000 S25.000 35.00030,000 20,000 200,000 200,000 47,00035,000 S S310,000 SOUTHERN COMPANY Income Statement For the Year Ended December 31, 2014 Net sales Cost of goods sold Gross profit Expenses Depreciation expense Interest expense Selling expenses Administrative expenses 15,000 Total expenses Income tax expense Net income S200,000 100,000 100,000 5,000 10,000