Maggie's Mart is a large department store in Roseville which has advertised for an accounting student to work in the accounting department as a paid intern. You are eager to get the job and as part of the application process, you are asked to write a business letter to the owner, Ms. Maggie Shepherd, and provide her with the following:

-A brief description of the financial results for 2015 which are shown below. Also, compare the 2014 to 2015 financial statement analyses. Include the working capital, current ratio, gross profit percentage, and net income percentage. Include any conclusions and recommendations that add value...don't just state the obvious. For example, if the current ratio was too low, explain the ramifications and how to improve it.

--Attach to the letter, the 2015 multiple step income statement (no balance sheet or owners equity statement) using the account totals shown in the table below.

A brief description of the financial results for 2015 which are also, compare the 2014 to 2015 financial statement analyses working capital, current ratio, gross profit percentage, and percentage. Include any conclusions and recommendation value doesn't just state the obvious. For example, if the current low, explain the ramification and how to improve it. Ramifications and how to improve it

--Attach to the letter, the 2015 multiple step income statement sheet or owners equity statement) using the account totals below.

Net sales.............................................................$140000

Net income.............................................................13000

Current liabilities......................................................22000

Selling expenses.......................................................25000

Long-term liabilities...................................................16000

Total assets (and total liabilities and owner's equity)............80000

Owner's equity...............................................................?

Gross profit............................................................50000

Cost of goods sold...................................................90000

Current assets...............................................................?

General and administrative expenses..............................12000

Plant and equipment ($29,500 less acc dep of $6,500).........23000

2014 financial results

Working capital.....................................................$27500

Current ratio.........................................................2.2 to 1

Gross profit percentage..........................................31.12 %

Net income percentage............................................28.63%