Complete the balance sheet for year 2015 based on 2014 calculated ratios.

Balance Sheet
FOR THE YEAR ENDED DECEMBER 31, 2015
Current Assets
Cash
Accounts Receivable
Inventories
Prepaid Insurance
Prepaid Rent
Total Current Assets
Non-Current Assets
Long-term Investments
Investments in equity securities
Land held for future development
Property, Plant, and Equipment
Buildings
Less: Accumulated Depreciation
Intangible Assets
Capitalized Development Costs
Goodwill
Other Identifiable Intangible Assets
Total Non-Current Assets
Total Assets
Current Liabilities
Accounts payable
Salary and Wages Payable
Interest Payable
Unearned Revenue
Income Tax payable
Property taxes payable
Utilities payable
Total Current Liabilities
Non-Current Liabilities
Notes payable
Provisions Related to Pensions
Bonds Payable
Total Non-Current Liabilities
Total Liabilities

A G B D E F Calculate the following ratios for year 2014 (round all ratios to two places behind the decimal): 1 Working capital = 101,114 2 Current ratio 2.18 3 Acid test ratio = 1.66 = 2.21 4 Accounts receivable turnover (use net sales as numerator) 163 5 Collection period of receivables (use 360 days in each year) 6 Accounts payable turnover ratio 0.87 7 Inventory turnover ratio = 0.94 8 Days to sell inventory = 383.1 9 Debt-to-Equity ratio 0.42 10 Times interest earned 1.46 11 RNOA (assume 12% tax rate) 0.44 12 ROCE 0.51 G24 A x fx c E H 1 M N P a R S s CAPTAINJETIN BALANCE SHEET 15,438 (50) CAPTAIN JET INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 31 Dec 13 15,388 4,723 10,665 Retained Earnings, Beginning Net Income/Loss Dividends Payment Retained Earnings, End of th 19,031 333 (100) 19,254 A B FOR THE YEAR ENDED DECEMBER 31, 2014 4 Sales Revenue 5 Less: Sales Return 6 Net Sales 7 Cost of Goods Sold 8 Gross Profit 9 Utilities Expenses 10 Salary and Wages Expenses 11 Rent Expenses 12 Depreciation Expenses 13 Interest Expenses 14 Supplies Expenses 15 Bad Debt Expenses 16 Total Operating Expenses 17 Earnings before income Taxes 18 Income Tax Expenses 19 Earnings after Income Taxes 20 21 22 5,150 6.850 5,000 68 10,500 7,055 5,052 58 500 23,307 1,519 5,685 313 1,781 788 SO 163 31 Dec 14 Current Assets Cash Accounts Receivable Inventories Prepaid insurance Prepaid Rent Total Current Assets Non Current Assets Long term investments Investments in equity securities Land held for future development Property, plant, and Equipment Buildings Less: Accumulated Depreciation Intangible Assets Capitalized Development Costs Goodwill Other identifiable intangible Assets Total Non Current Assets Total Assets 6,375 5,658 17,130 0 0 6,375 5,685 0 47.000 123,438) 10,300 31 48,875 (25.219) 333 1,000 9,500 6,000 52,219 75,525 24 O 1,000 9,500 6,000 52,125 69,255 0 0 4,188 25 26 27 28 29 30 31 32 33 6,683 185 225 1,500 1,085 825 156 10,658 188 1,500 1,055 825 0 7,755 35 35 37 38 39 15,000 0 13,750 o Current Liabilities Accounts payable Salary and Wages Payable Interest Payable Unearned Revenue Income Tax payable Property taxes payable Utilities payable Total Current Liabilities Non Current Liabilities Notes payable Provisions Related to Pensions Bonds Payable Total Non Current Liabilities Total Liabilities Stockholders' Equity Common Stock ($10 par, 11,000 and 10,000 shares) Preferred Stock (5% dividend, $100 par values, 1050 and 1000 sh Paid in capital - Common Stock Paldin capital. Preferred Stock Retained Earnings Accumulated Other Comprehensive income Less: Treasury Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity 0 13,750 21 SOS 41 42 44 45 46 47 15,000 25,658 o 13,750 13,125 3,438 1.250 19,254 625 (1.594) 49,858 75,526 12,500 12,500 3,435 1,250 19,031 625 (1.594) 47,750 69,255 49 SO 51 52 53 A G B D E F Calculate the following ratios for year 2014 (round all ratios to two places behind the decimal): 1 Working capital = 101,114 2 Current ratio 2.18 3 Acid test ratio = 1.66 = 2.21 4 Accounts receivable turnover (use net sales as numerator) 163 5 Collection period of receivables (use 360 days in each year) 6 Accounts payable turnover ratio 0.87 7 Inventory turnover ratio = 0.94 8 Days to sell inventory = 383.1 9 Debt-to-Equity ratio 0.42 10 Times interest earned 1.46 11 RNOA (assume 12% tax rate) 0.44 12 ROCE 0.51 G24 A x fx c E H 1 M N P a R S s CAPTAINJETIN BALANCE SHEET 15,438 (50) CAPTAIN JET INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 31 Dec 13 15,388 4,723 10,665 Retained Earnings, Beginning Net Income/Loss Dividends Payment Retained Earnings, End of th 19,031 333 (100) 19,254 A B FOR THE YEAR ENDED DECEMBER 31, 2014 4 Sales Revenue 5 Less: Sales Return 6 Net Sales 7 Cost of Goods Sold 8 Gross Profit 9 Utilities Expenses 10 Salary and Wages Expenses 11 Rent Expenses 12 Depreciation Expenses 13 Interest Expenses 14 Supplies Expenses 15 Bad Debt Expenses 16 Total Operating Expenses 17 Earnings before income Taxes 18 Income Tax Expenses 19 Earnings after Income Taxes 20 21 22 5,150 6.850 5,000 68 10,500 7,055 5,052 58 500 23,307 1,519 5,685 313 1,781 788 SO 163 31 Dec 14 Current Assets Cash Accounts Receivable Inventories Prepaid insurance Prepaid Rent Total Current Assets Non Current Assets Long term investments Investments in equity securities Land held for future development Property, plant, and Equipment Buildings Less: Accumulated Depreciation Intangible Assets Capitalized Development Costs Goodwill Other identifiable intangible Assets Total Non Current Assets Total Assets 6,375 5,658 17,130 0 0 6,375 5,685 0 47.000 123,438) 10,300 31 48,875 (25.219) 333 1,000 9,500 6,000 52,219 75,525 24 O 1,000 9,500 6,000 52,125 69,255 0 0 4,188 25 26 27 28 29 30 31 32 33 6,683 185 225 1,500 1,085 825 156 10,658 188 1,500 1,055 825 0 7,755 35 35 37 38 39 15,000 0 13,750 o Current Liabilities Accounts payable Salary and Wages Payable Interest Payable Unearned Revenue Income Tax payable Property taxes payable Utilities payable Total Current Liabilities Non Current Liabilities Notes payable Provisions Related to Pensions Bonds Payable Total Non Current Liabilities Total Liabilities Stockholders' Equity Common Stock ($10 par, 11,000 and 10,000 shares) Preferred Stock (5% dividend, $100 par values, 1050 and 1000 sh Paid in capital - Common Stock Paldin capital. Preferred Stock Retained Earnings Accumulated Other Comprehensive income Less: Treasury Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity 0 13,750 21 SOS 41 42 44 45 46 47 15,000 25,658 o 13,750 13,125 3,438 1.250 19,254 625 (1.594) 49,858 75,526 12,500 12,500 3,435 1,250 19,031 625 (1.594) 47,750 69,255 49 SO 51 52 53