Using the Balance Sheet and the Income Statement, answer these questions

5. What is the Fixed Asset Turnover for 2017?

6. What is the Debt-to-Assets Ratio for 2018?

7. What is the Gross Profit Margin for 2017?

8. What is the Operating Profit Margin for 2018?

BALANCE SHEET in U.S. dollars) 12/31/2017 12/31/2018 Difference Assets Current Assets Cash Acct Receivable Inventory Ttl Current Assets $ $ $ $ 75,000 $ 20,200 $ 39,000 $ 134,200 $ 65,000 $ 25,000 $ 50,000 $ 140,000 $ (10,000) 4,800 11,000 5,800 Land Fixed Assets $ Buildings $ (Accumalated Deprec.) $ Office Equip. $ Machinery $ (Accumalated Deprec.) $ Ttl Fixed Assets $ 140,000 $ 200,000 $ (20,000) $ 80,000 $ 45,000 $ (4,000) $ 441,000 $ 140,000 $ 200,000 $ (35,000) $ 90,000 $ 45,000 $ (8,000) $ 432,000 $ (15,000) 10,000 (4,000) (9,000) TOTAL ASSETS $ 575,200 $ 572,000 $ (3,200) Liabilities Current Liabilities Accounts Payable $ Notes Payable $ Accrued Payroll $ Ttl Current Liabilities $ Long-Term Liabilties Mortgage $ Bank Loan $ Ttl Long-Term Liability $ Owner's Equity $ 37,000 $ 6,000 $ 16,000 $ 59,000 $ 45,000 $ 7,000 $ 24,000 $ 76,000 $ 8,000 1,000 8,000 17,000 300,000 $ 35,000 $ 335,000 $ 181,200 $ 275,000 $ 30,000 $ 305,000 $ 191,000 $ (25,000) (5,000) (30,000) 9,800 Total Liabilities /Owner's Equity $ 575,200 $ 572,000 $ (3,200) Receipts INCOME STATEMENT (in U.S. dollars) 2017 Sales $ 564,000 $ Less Returns $ 12,500 $ $ 155,000 $ 2018 700,500 10,000 200,000 COGS Gross Profit $ 396,500 $ 490,500 Other Expenses Salaries Travel Car Leases Rent Payroll Tax Insurance Fuel/Maint. Benefits Advertising Utilities Misc. $ $ $ $ $ $ $ $ $ $ $ $ 186,000 $ 9,600 $ 7,000 $ 10,000 $ 5,000 $ 6,000 $ 2,000 $ 5,000 $ 3,000 $ 2,000 $ 1,500 $ 237,100 $ 240,000 11,000 9,000 15,000 7,000 6,000 3,000 7,000 3,500 2,500 1,600 305,600 Total Exp $ Operating Income Interest Taxes Profit After Tax $ $ $ $ 159,400 $ 15,600 $ 17,000 $ 126,800 $ 184,900 17,600 22,000 145,300