i Data Table 2018 Knapp Inc. Income Statement for Years Ended 1/31/2017 and 1/31/2018 2017 Sales $ 1,200 Cost of goods sold 700 Gross profit $ 500 Selling, general and administrative expenses $ 30 $ 1,465 856 $ 609 $ 49 215 220 264 Depreciation Operating income $ 345 Interest expense Net income before taxes Taxes (40%) 112 169 $ 120 $ Net income Print Print Done Done Data Table ded -size Knapp Inc. Balance Sheet at 1/31/2017 and 1/31/2018 del Assets 2018 lar.) 2017 $ 200 Cash $ 155 Accounts receivable 416 450 550 -size Inventory 634 one $ 1,200 $ 1,205 Current assets Plant and equipment $ 2,200 (1,000) $ 2,628 (1,215) Less accumulated depreciation Net plant and equipment $ 1,200 $ 1,413 $ 2,400 $ 2,618 Total assets Liabilities and Owners' Equity 2017 $ 200 2018 $ Accounts payable Notes payable-current (9%) Current liabilities $ $ 200 600 158 145 303 600 $ $ Bonds Owners' equity Common stock $ 900 $ 900 Ans Print Done (Working with financial statements) Given the balance sheet, : , and income statement, :, for knapp Inc.: a. How much is the firm's net working capital and what is the debt ratio? b. Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2018 a. How much is the firm's net working capital and what is the debt ratio? The net working capital is $ 903. (Round to the nearest dollar.) The debt ratio is 34.4 %. (Round to one decimal place.) b. Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2018. Complete the common-sized income statement: (Round to one decimal place.) Common-sized income statement $ % 1,465 856 609 $ % $ Sales Cost of goods sold Gross profit Selling, general, and administrative expenses Depreciation Operating income Interest expense Net income before taxes 215 $ 345 Taxes (40%) Net income 169 i Data Table 2018 Knapp Inc. Income Statement for Years Ended 1/31/2017 and 1/31/2018 2017 Sales $ 1,200 Cost of goods sold 700 Gross profit $ 500 Selling, general and administrative expenses $ 30 $ 1,465 856 $ 609 $ 49 215 220 264 Depreciation Operating income $ 345 Interest expense Net income before taxes Taxes (40%) 112 169 $ 120 $ Net income Print Print Done Done Data Table ded -size Knapp Inc. Balance Sheet at 1/31/2017 and 1/31/2018 del Assets 2018 lar.) 2017 $ 200 Cash $ 155 Accounts receivable 416 450 550 -size Inventory 634 one $ 1,200 $ 1,205 Current assets Plant and equipment $ 2,200 (1,000) $ 2,628 (1,215) Less accumulated depreciation Net plant and equipment $ 1,200 $ 1,413 $ 2,400 $ 2,618 Total assets Liabilities and Owners' Equity 2017 $ 200 2018 $ Accounts payable Notes payable-current (9%) Current liabilities $ $ 200 600 158 145 303 600 $ $ Bonds Owners' equity Common stock $ 900 $ 900 Ans Print Done (Working with financial statements) Given the balance sheet, : , and income statement, :, for knapp Inc.: a. How much is the firm's net working capital and what is the debt ratio? b. Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2018 a. How much is the firm's net working capital and what is the debt ratio? The net working capital is $ 903. (Round to the nearest dollar.) The debt ratio is 34.4 %. (Round to one decimal place.) b. Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2018. Complete the common-sized income statement: (Round to one decimal place.) Common-sized income statement $ % 1,465 856 609 $ % $ Sales Cost of goods sold Gross profit Selling, general, and administrative expenses Depreciation Operating income Interest expense Net income before taxes 215 $ 345 Taxes (40%) Net income 169