Problem 4-16 (similar to) (Computing ratios) Use the information from the balance sheet and income statement in the popup window, to calculate the following ratios: a. Current ratio b. Acid-test ratio c. Times interest earned d. Inventory turnover e. Total asset turnover f. Operating profit margin g. Days in receivables h. Operating return on assets i. Debt ratio j. Return on equity k. Fixed asset tumover Balance Sheet ASSETS Cash $ 91,000 30,000 Accounts receivable Inventory 50,000 13,000 Prepaid expenses Total current assets Gross plant and equipment $ 184,000 Accumulated depreciation 398,000 (64,000) $ 518,000 $ 90,000 67,000 Total assets LIABILITIES AND OWNERS' EQUITY Accounts payable Accrued liabilities Total current liabilities Long-term debt Common stock Retained earnings $ 157,000 120,000 203.000 32,000 $ 518,000 Total liabilities and equity Income Statement Sales" $ 215,000 (81.000) $ 134,000 (30,000) (21,000) Cost of goods sold Gross profit Selling general, and administrative expenses Depreciation expenses Operating profits Interest expense Earnings before taxes 83,000 (7.000) $ 76,000 (15,900) Taxes $ 80,040 Net income * 12% of sales are cash sales