The financial statements of Fast Corporation are presented here:

Additional information:
1. Profit available to common shareholders was $96,600.
2. The weighted average number of common shares was 40,000.
3. The share price at December 31 was $30.
Instructions
(a) Calculate the following values and ratios for 2015. The results for 2014 are provided for comparative purposes.
1. Working capital (2014: $78,000)
2. Current ratio (2014: 1.4:1)
3. Debt to total assets (2014: 51.5%)
4. Earnings per share (2014: $1.35)
5. Price-earnings ratio (2014: 10.8 times)
(b) Using the information in part (a), discuss the changes in liquidity, solvency, and profitability between 2014 and
2015.

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FAST CORPORATION Income Statement Year Ended December 31, 2015 Sales Expenses $706,000 Cost of goods sold Operai İly; expenses Interest expense $420,000 144,000 10,000 574,000 132,000 35,400 9,600 Profit before income taxes Income tax expense Profit FAST CORPORATION Statement of Financial Position December 31, 2015 Assets Current assets Cash Trading investments Accounts receivable Merchandise inventory 23,100 34,800 86,200 109,750 Property, plant, and equipment Total assets $253,850 465,300 $719,150 Liabilities and Shareholders Equity Current liabilities Accounts payable Income tax payable Current portion of mortgage payable $134,200 10,350 12,000 $156,550 132,000 288,550 Mortgage payable Total liabilities Shareholders' equity Common shares Retained earnings $100,000 330,600 430,600 $719,150 Total liabilities and shareholders equity