Question: Please answer this two question in Asap. thank you! Use the following partially blank Income Statement and Balance Sheet plus the ratios provided for Questions

Please answer this two question in Asap. thank you!

 Please answer this two question in Asap. thank you! Use thefollowing partially blank Income Statement and Balance Sheet plus the ratios providedfor Questions 1-6. Your task is to work backwards, using the ratios,to fill in the missing information on the financial statements. Once youhave completed the Income Statement and Balance Sheet, go to Connect and

Use the following partially blank Income Statement and Balance Sheet plus the ratios provided for Questions 1-6. Your task is to work backwards, using the ratios, to fill in the missing information on the financial statements. Once you have completed the Income Statement and Balance Sheet, go to Connect and fill in the requested information. Cracker Barrel Foods Corp Income Statement January 1 - December 31st, 2020 Revenues 6,227,844 Cost of Goods Sold 3,844,576 Expenses 1,298,668 Depreciation 362,325 EBIT 722,275 Interest Expense Taxable income $ Taxes @ 30% $ Net Income A A Current Assets Cash A/R Inventory Other Current Assets Total Current Assets Net Fixed Assets Cracker Barrel Foods Corp Balance Sheet As of December 31st, 2020 2020 Current Liabilities 2020 10,445 A/P $ 330,000 N/P $ 250,000 Other Current Liab $ 1,250,000 $ 812,000 Total Current Liab $ $ 1,389,615 $ 1,761,044 $ Long Term Debt $ 3,129,754 Common Stock Retained earnings Total Liab. & O.E. $ Total Assets $ Cracker Barrel Foods Corp Financial Ratios 2020 Cracker Barrel 1.330 1.117 0.004 0.58 1.37 2.37 Liquidity Ratios 1. Current Ratio 2. Quick Ratio 3. Cash Ratio Solvency Ratios 4. Total Debt Ratio 5. Debt/Equity Ratio 6. Equity Multiplier Asset Management Ratios 7. Times Interest Earned 8. Cash Coverage (EBITDA) Ratio 9. Inventory Turnover Ratio 10. Days Sales in Inventory 11. Receivables Turnover Ratio 12. Days Sales in A/R (Average Collection Period) 4.82 7.23 9.88 36.93 5.10 71.61 13. NWC Turnover 10.33 71.61 10.33 1.99 12. Days Sales in A/R (Average Collection Period) 13. NWC Turnover 14. Fixed Asset Turnover 15. Total Asset Turnover Profitability Ratios 16. Profit Margin 17. Return on Assets (ROA) 18. Return on Equity (ROE) 1.12 6.4% 7.2% 17.1% Questions related to Ratios and the Financial Statements What is the correct value for Total Liabilities and Owner's Equity? x Questions related to Ratios and the Financial Statements What is the correct value for Total Liabilities and Owner's Equity? x x

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