Constructing Statements from Ratio Data The following are the current year financial statements for Omni Company, with almost all dollar amounts missing:

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Constructing Statements from Ratio Data The following are the current year financial statements

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for Omni Company, with almost all dollar amounts missing:

The following information is available about Omni Company's financial statements:

Quick ratio, $0\mathrm{.}95.$

Inventory turnover $($inventory at January $1$ was $$924,000),5$ times.

Return on sales, $8\mathrm{.}0$ percent.

Chapter $14$ Analysis and Interpretation of Financial Statements

Cambridge Business Publishers

Accounts receivable turnover $($accounts receivable $($net$)$ at January $1$ were $$860,000),8$ times.

Gross profit percentage, $32$ percent.

Return on equity $($stockholders$\text{'}$ equity at January $1$ was $$3,300,000),16$ percent.

The interest expense relates to the bonds payable that were outstanding all year.

Required

Compute the missing amounts, and complete the financial statements of Omni Company. Hint: Complete the income statement first.$\backslash$table$[[?$