Data table Data table (Click on the icon in order to copy its contents into a spreadsheet.) T. P. Jarmon Company Income Statement for 2013 \begin{tabular}{ll} \hline Sales (all credit) & $600,000 \\ Less: Cost of goods sold & (460,000) \\ Gross profit & $140,000 \end{tabular} Less: Operating and interest expenses General and administrative $(30,000) Interest (9,900) Depreciation (29,900) Total Earnings before taxes Less: Taxes Net income available to common stockholders Less: Cash dividends $(69,800)$70,200(27,200)$43,000(31,700)$11,300 Change in retained earnings (Click on the icon in order to copy its contents into a spreadsheet.) conditions have led the firm's suppliers to offer sizable cash discounts to speed up payments for purchases. Mr. Vehlim wants to use the line of credit to supplant a large portion of the firm's payables during the summer, which is the firm's peak seasonal sales period. The firm's two most recent balance sheets were presented to the bank in support of its loan request. In addition, the firm's income statement for the year just ended was provided. These statements are found in the following tables: Jan Fama, associate credit analyst for the Merchants National Bank of Midland, Michigan, was assigned the task of analyzing Jarmon's loan request. a. Calculate the following financial ratios for 2013 : b. Which of the ratios calculated in part (a) do you think should be most crucial in determining whether the bank should extend the line of credit? c. Use the information provided by the financial ratios and industry-norm ratios to decide if you would support making the loan. Discuss the basis for your recommendation. a. Calculate the following financial ratios for 2013 : T. P. Jarmon's current ratio is (Round to two decimal places.) T. P. Jarmon's acid-test ratio is (Round to two decimal places.) T. P. Jarmon's debt ratio is \%. (Round to one decimal place.)