..........75 ***... 100 Working with Financial Statements You are given the following financial statements. Balance Sheet Current Assets: Cash.. .............75 A/R............... ......... .50 Inventory.... Total C/A................ .200 Net Plant & Equip. ..500 Total Assets............ ..700 Current Liabilities A/P... Note Payable............. ..20 Total C/L.............. .120 Long Term Debt...............280 Owner's Equity Common Stock............200 Retained Earnings..... .100 Total Liab & Equity.... ..700 Income Statement Sales....................... .500 Costs.............. ...400 Taxable income.............100 Tax (20%)....................20 Net Income.......... ..80 Calculate the following: a)Current Ratio b)Quick Ratio c)Cash Ratio d) Debt Equity Ratio e) Return on Assets f)Return on Equity g)Profit Margin