Analyze the balance sheet and income statement given below evaluate if the condition of the firm is appreciable according to the ratios given below.

i. Debt to Equity Ratio

ii. Debt to Asset Ratio

iii. Quick Ratio

iv. Current Ratio

v. Inventory Turnover Ratio

$ Revenues Merchandise Sales Music Lesson Income Total Revenues: 24,800 3,000 $ 27,800 10,200 2,000 750 500 Expenses Cost of Goods Sold Depreciation expense Wage expense Rent expense Interest expense Supplies expense Utilities expense Total Expenses: Net Income 500 500 400 14,850 Income Statement Example $ 12,950 Income Statement 7.314 5,560 12,874 Assets Current Assets Cash Accounts receivable Inventory Prepaid expenses Short-term investments Total current assets Fixed (Long-Term) Assets Long-term investments Property, plant, and equipment (Less accumulated depreciation) Intangible assets Total fixed assets Other Assets Deferred income tax Other Total Other Assets Total Assets 2.310 14,442 (2.200) 14.552 27,426 9,060 3.349 12.409 Liabilities and Owner's Equity Current Liabilities Accounts payable Short-term loans Income taxes payable Accrued salaries and wages Unearned revenue Current portion of long-term debt Total current liabilities Long-Term Liabilities Long-term debt Deferred income tax Other Total long-term liabilities Owner's Equity Owner's investment Retained earnings Other Total owner's equity 3.450 3,450 6,000 5.567 11.567 Total Liabilities and Owner's Equity 27,426 Balance Sheet