Name ecelve partia Section 2: Problem solving quest P6 (20 points): (De monstrate your ealeulation steps to r Precision Toel 2012 Income Statement Net sales $36,408 Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid 28,225 6,423 Taxable Income $5,913 Less: Taxes Net income 3.843 Precision Tool 2011 and 2012 Balance Sheets 2012 2011 2012 2011 $8,384 11,500 17,500 24247 $27,129 Retained earning 6357 825 Cash $2,060 Accounts payable $7,250 1,003 4218 Long-term debt 9,800 21,908 Common stock 15,000 Accounts ree. 3,411 Inventery 18 776 $24,247 $27,129 Retained earning Total Net fised assets 14162 14.00 Total assets samz suam Total liab & equityssan L202 28. What is the net working capital to total assets ratio for 2012 A. 24.18 percent B. 36.82 percent C. 45.49 percent D. 51.47 percent E. 65.83 percent