Problem 5: Bondie Inc. Comparative Income Statement For the Years Ended December 31, 2022 and 2021 2022 2021 Sales $2,211,000 $2,037,200 Sales return and allowances $11.000 $7.200 Net sales $2.200.000 $2.030,000 COGS $825.000 $811.200 Gross profit $1,375,000 $1.218.800 Selling expenses $445.500 $484.000 Administrative expenses $321.750 $290.400 Total operating expenses $767.250 $774.400 Income from operations $607.750 $444,400 Other income $33.000 $26.400 $640.750 $470.800 Other expenses interest) $176.000 $96.000 Income before income tax $464.750 $374.800 Income tax expense $54.000 $52.800 Net income $410.750 $322.000 Bondie Inc. Comparative Balance Sheet For the Years Ended December 31, 2022 and 2021 Dec. 31, 2022 Dec. 31, 2021 Assets Current assets: Cash $528.000 $410.000 Temporary investments $800,000 $725.000 Accounts receivable (net) $425.000 $400,000 Inventories $310.000 $240.000 Prepare expenses $100.000 $75,000 Total current assets $2.163.000 $1.850.000 Long-term investments $633.000 $560.000 Property, plant, and equipment (net) $3.146.750 $2.150.000 Total assets $5,942,750 $4,560,000 Liabilities Current liabilities $720.000 $710.000 Long-term liabilities: Mortgage note payable, 8%, due 2027 $1,000,000 $0 Bonds payable, 8%, due 2031 $1.200.000 $1.200.000 Total long-term liabilities $2.200.000 $1.200.000 Total liabilities $2.920.000 $1.910.000 Stockholders' Equity Preferred $0.08 stock, $20 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $400.000 $440.000 $2.182.750 $3.022.750 $5.942.750 $400.000 $440.000 $1.810,000 $2.650.000 $4,560,000 Instructions: Calculate 10 ratios from 13 ratios below: 1. Current ratio 2. Accounts receivable turnover 3. Number of days's sales in receivables 4. Inventory turnover 5. Number of days' sales in inventory 6. Ratio of fixed assets to long-term liabilities 7. Ratio of liabilities to stockholders' equity 8. Times interest charge earned 9. Ratio of net sales to assets 10. Return on assets 11. Return on stockholders' equity 12. Earning per share 13. P/E ratio