Calculate the ratios using both the GAAP and IFRS generated financial statements.

Using these ratios, discuss why these two different standards produce different ratio results.

786 877 U.S. GAAP STATEMENT OF INCOME FOR THE YEAR ENDED 12/31/16 RS STATEMENT OF INCOME FOR THE YEAR ENDED 12/31/16 28,104.000 ost of goods sold of goods sold profit on sales profit on sales 10.514,800 and administrative experses 0s,000 47,455 404,833 505,000 240,435 Operating expenses Operating expenses Total operating and administrative expenses profit 3481.002 4,077,222 income (expensel income lespense 608,850 4,686.072 before income taxes 3.481,002 beflore income tanes ncome (loss) income Boss Compute the following ratios from the Financial Statements provided: GAAP IFRS a. Current b. Quick c. Debt to Assets d. Return on Assets e. Return on Equity f. Profit Margin g. Gross Margin h. Asset Turnover 786 877 U.S. GAAP STATEMENT OF INCOME FOR THE YEAR ENDED 12/31/16 RS STATEMENT OF INCOME FOR THE YEAR ENDED 12/31/16 28,104.000 ost of goods sold of goods sold profit on sales profit on sales 10.514,800 and administrative experses 0s,000 47,455 404,833 505,000 240,435 Operating expenses Operating expenses Total operating and administrative expenses profit 3481.002 4,077,222 income (expensel income lespense 608,850 4,686.072 before income taxes 3.481,002 beflore income tanes ncome (loss) income Boss Compute the following ratios from the Financial Statements provided: GAAP IFRS a. Current b. Quick c. Debt to Assets d. Return on Assets e. Return on Equity f. Profit Margin g. Gross Margin h. Asset Turnover