all answer must be entered as formula

XS Calculate Select Ratios - Excel ? FILE PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri A % Paste A- BIU- Alignment Number Conditional Format as Cells Editing Cell Formatting Table Styles Clipboard Font Styles A1 I X fx Condensed financial statements for Games Galore are summarized below: A B D 1 Condensed financial statements for Games Galore are summarized below: 2 3 Balance Sheet 2016 2015 4 Cash $ 5 Accounts Receivable, Net 6 Inventory 7 Prepaid Insurance 8 Total Current Assets 9 Property and Equipment, Net 10 Total Assets 11 12 Current Liabilities 13 Long-term Liabilities 14 Total Liabilities 15 Contributed Capital 16 Retained Earnings 17 Total Stockholders' Equity 18 Total Liabilities and Stockholders' Equity 19 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses Sheet1 READY Attempt(s) * EB P HOME INSERT u 11 + $ $ 185,000 $ 80,000 104,000 11,900 380,900 514,500 895,400 $ 85,300 $ 284,000 369,300 299,000 227,100 526,100 $ 895,400 $ $ 3,031,000 1,949,000 1,082,000 891.400 B M 143,000 59,000 134,000 5,880 341,880 407,000 748,880 96,800 224,000 320,800 299,000 129,080 428,080 748,880 Hint 6 Sign In X 100% + Show Me XS FILE Calibri Paste B IU Clipboard Font A1 X V 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 28 Income Tax Expense 29 Net Income 30 31 Required: 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 36 Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 38 Inventory turnover (rounded to two decimal places) 39 Days' sales in inventory (rounded to the nearest day) 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 43 Debt to assets (rounded to two decimal places) Sheet1 READY Attempt(s) * HOME INSERT 11 A. Calculate Select Ratios - Excel ? PAGE LAYOUT FORMULAS DATA REVIEW A A % &-A- Cell Alignment Number Conditional Format as Cells Editing Formatting Table Styles Styles fx Condensed financial statements for Games Galore are summarized below: B D $ 3,031,000 1,949,000 1,082,000 891,400 190,600 14,500 176,100 47,000 129,100 $ VIEW to 1 times days times days to 1 M Hint 5 x Sign In Show Me XS Calculate Select Ratios - Excel ? FILE FORMULAS DATA REVIEW VIEW 3 % Paste Alignment Number Conditional Format as Cell Formatting Cells Editing Table Styles G Styles Clipboard A1 I X fix Condensed financial statements for Games Galore are summarized below: A B D 31 Required: 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 36 Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 38 Inventory turnover (rounded to two decimal places) 39 Days' sales in inventory (rounded to the nearest day) 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 43 Debt to assets (rounded to two decimal places) 44 Times interest earned (rounded to one decimal place) 45 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). 48 Profit margin ratio (rounded to one decimal place) 49 Gross margin ratio (rounded to one decimal place) 50 51 52 53 > Sheet1 + READY Attempt(s) HOME INSERT Calibri BIU- 11 A- Font PAGE LAYOUT A A A- to 1 times days times days to 1 times percent percent 1 Hint Sign In 100% + Show Me