Question: Not sure what I did wrong. Should the interest coverage ratio be negative? I included the balance sheet and income statement. Now that you've completed

 Not sure what I did wrong. Should the interest coverage ratiobe negative? I included the balance sheet and income statement. Now thatyou've completed a refresher on the ratios, calculate the ratio amounts for

Not sure what I did wrong. Should the interest coverage ratio be negative? I included the balance sheet and income statement.

Now that you've completed a refresher on the ratios, calculate the ratio amounts for the current year using Awesome Sauces' Income Statement and Balance Sheet:

  • Balance Sheet and Income Statement

Set up each ratio by filling in the numerators and denominators. Use the year's beginning owners' equity to compute return on equity, and the year's ending amounts for all other ratio values.Enter your responses below using numerical characters only without a dollar sign or comma (e.g. 1000 or -1000).

the current year using Awesome Sauces' Income Statement and Balance Sheet:Balance Sheetand Income StatementSet up each ratio by filling in the numerators anddenominators. Use the year's beginning owners' equity to compute return on equity,and the year's ending amounts for all other ratio values.Enter your responses

\fAWESOME SAUCES Income Statement and Balance Sheets for the current year Awesome Sauces Income Statement for the Current Year Sales Cost of Goods Sold Gross Margin Sales & Administrative Expenses Depreciation Expense Awesome Sauces Balance Sheets at the End of the Current Year $178,800 ($111,200) 2019 119,200 (74,600) $67,600 ($23,800) ($12,500) 44,600 (17,000) (10,000) Earnings Before Interest and Taxes Interest Expense Earnings Before Taxes Tax Expense $31,300 ($2,000) $29,300 ($5,900) 17,600 0 17,600 (3,700) Net Income $23,400 13,900 Current Assets Balances Ending Beginning Cash $21,300 $11,100 Accounts Receivable Finished Goods Inventory Raw Materials Inventory $24,900 $42,800 $6,300 $5,200 $33,100 $4,900 Total Current Assets Non-Current Assets Property Plant and Equipment Accumulated Depreciation $95,300 $54,300 $150,000 $150,000 ($62,500) ($50,000) Total Assets $182,800 Current Liabilities Accounts Payable Non-Current Liabilities $8,900 $154,300 $1,900 Note Payable $38,100 $40,000 $47,000 $41,900 Total Liabilities Owner's Equity Contributed Capital Retained Earnings $100,000 $100,000 $35,800 $12,400 Total Owner's Equity $135,800 $112,400 Total Liabilities and Owner's Equity $182,800 $154,300

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