Note : Answers should be in Excel or word

The financial statements of Sun Corporation appear below: Sun Corporation Comparative Balance Sheets December 31, 2017 - 18 Assets Cash Short-term investments Accounts receivable (net) Inventory Property, plant and equipment (net) 2018 S 75,000 75,000 150,000 225,000 975,000 2017 S 150,000 225,000 112,500 262,500 1,125,000 Total assets Liabilities and stockholders' equit Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity S 75,000 150,000 300,000 562,500 412,500 S 112,500 337,500 600,000 562,500 262,500 Sun Corporation Income Statement For the Year Ended December 31, 2018 Net sales Cost of goods sold Gross profit Expenses $1,500,000 937,500 562,500 Operating expenses Interest expense $157,500 67.500 Total expenses Income before income taxes Income tax expense Net income 225.000 337,500 101.250 Required (a) Using the financial statements, compute the following ratios for Sun Corporation for 2018. Show all computations 1. Current ratio 2. Acid-test ratio 3. Accounts receivable turnover 4. Inventory turnover 5. Profit margin. 6. Return on assets 7. Assets turnover 8. Times interest earned. 9. Working capital. 10. Debt to assets ratio (4 marks) (b) Prepare a vertical analysis of the 2018 income statement data for Sun Corporation. (2 marks) (c) Based on the ratios calculated in (a), and the vertical analysis in (b), discuss briefly the improvement or lack thereof in financial position and operating results from 2017 to 2018 of Sun Corporation. (2 marks)