History Bookmarks Window Help ptor 16 Assignment 10 one 333333 LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2020 2000 2010 Gross sales $21.600 516,950 Sales returns and allowances 100 Net sales $20,00 $16,00 Cost of merchandise (goods) sold 11356 8200 Gross profit Operating expenses Depreciation $ 960 $ 730 Selling and sinistrative 4,150 3.300 Research 830 630 Miscellaneous 620 438 Tatat operating expenses 56,540 Incone before interest and taxes 135.00 12,010 $ 3,00 Interest expense 20 630 Income before taxes $ 1,990 12,830 Provision for taxes 290 1.132 Net Income $ 1,194 $ 1,690 2eze 2019 $13,300 $10,300 17,600 13,800 9,800 15,300 25,300 11.00 $66,200 150.700 LOGIC COMPANY Comparative Balance Sheet December 31, 2019 and 2870 Assets Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current sets plant and equipment: Building (net) Land Total plant and equipment Total assets Liabilities Current Liabilities Accounts payable Salarles payable Total current liabilities Long-term Libilities Mortgage rate payable Total liabilities Stockholders' Equity Costock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $15,600 112,300 1480010300 58.com 122,600 $95.800 $73.300 $14,300 $ 8,200 8,200 5.30 $ 22,500 $14,500 23,300 21,800 $22,300 $22.200 20.700 14.000 $51.000 537.000 $96,500 $73,360 Calculate the acid test ratio (Do NOT enter your answer as a percentage .e., do not move the decimal two places to the right). Enter it as a proportion rounded to the nearest hundredth.) 2020 2010 Acid est