Menu Constructing Statements from Ratio Data The following are the financial statements for Timber Company, with almost all dollar amounts missing: TIMBER COMPANY Balance Sheet December 31, 2012 Cash Accounts receivable (net) Inventory Equipment (net) ?Current liabilities ? 10% Bonds payable 144,000 ? Common stock ?Retained earnings 48,000 Total Liabilities and Total Assets Stockholders' Equity $676,000 TIMBER COMPANY Income Statement For the Year Ended December 31, 2013 Sales revenue Cost of goods sold Gross profit Selling and administrative expenses Income before interest expense and income taxes Interest expense Income before income taxes Income tax expense (35%) Net income $85,200 The following information is available about Timber Company's financial statements: 1. Quick ratio, 1.65 2. Current ratio, 3.15 3. Return on sales,7.5 percent. 4. Return on common stockholders' equity (common stockholders' equity at January 1 was $342,000), 20 percent 5. Gross profit percentage, 30 percent