Revise your calculations based the new information provided below and then answer the questions that follow. Current $ 60,000 30,000 90,000 Previous $ 50,000 35,000 70,000 194,500 145,000 $ 374,500 $ 300,000 Cash Accounts receivable Inventory Long-term assets Total assets Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total liabilities and stockholders' equity Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Net income Stock price Current $ 350,000 212,500 50,000 11,000 22,000 $ 54,500 $ 50.00 Current $ 70,000 100,000 170,000 204,500 $ 374,500 Previous $ 60,000 90,000 150,000 150,000 $ 300,000

Revise your calculations based the new information provided below and then answer the questions that follow. 1. Use your spreadsheet to recalculate the ratios and enter your results here: Note: Round your answers to 2 decimal places. 2. All of the following are true, except: Profitability ratios are the primary measure of a company's success. Profitability ratios help measure a company's operating effectiveness. Investors and creditors are espeically concerned with profitability ratios