Looking back over the last few years it is clear that Nicole Mackisey has accomplished a lot running her business Nicole's Getaway Spa (NGS). Nicole is curious about her company's performance as she compares its financial statements. 2016 2015 2014 $ Balance Sheet Cash Accounts Receivable, Net Inventory Prepaid Expenses Other Current Assets $ 9,100 3,200 1,800 1,230 420 6,600 3,700 3,600 1,530 470 $ 6,200 3,000 2,200 680 320 Total Current Assets Property and Equipment, Net 15,750 76,000 15,900 91,000 12,400 39,000 Total Assets $91,750 $106,900 $51,400 Current Liabilities Long-Term Liabilities $12,800 39,200 $ 12,800 54,200 $13,800 18,200 Total Liabilities 52,000 67,000 32,000 Common Stock Retained Earnings 31,000 8,750 36,000 3,900 16,900 2,500 Total Stockholders' Equity 39,750 39,900 19,400 Total Liabilities and Stockholders' Equity $91,750 $106,900 $51,400 Income Statement Sales Revenue Cost of Goods Sold $86,000 68,600 $ 62,000 51,600 $50,000 38,600 Gross Profit Operating Expenses 17,400 4,600 10,400 2,600 11,400 7,600 Income from Operations Interest Expense 12,800 1,360 7,800 3,460 3,800 1,160 Income before Income Tax Expense Income Tax Expense 11,440 3,650 4,340 1,400 2,640 1,100 Income before Income Tax Expense Income Tax Expense 11,440 3,650 4,340 1,400 2,640 1,100 Net Income $ 7,790 $2,940 $ 1,540 Required: 1-a. Calculate the gross profit percentage, return on equity, and fixed asset turnover ratio for 2016 and 2015. (Round your answers to 2 decimal places.) 2015 Gross Profit Percentage Return on Equity Fixed Asset Turnover Ratio % % % 1-b. Was NGS more profitable in 2016 or 2015? 2016 2015 2. Calculate the current ratio for 2016 and 2015. (Round your answers to 2 decimal places.) 2016 2015 Current Ratio 3-a. Calculate the debt-to-assets ratio and times interest earned ratio for 2016 and 2015. (Round your answers to 2 decimal places.) 2016 2015 Debt to Assets Ratio Times Interest Earned Ratio