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Complete the ratios listed based on the following Income Statement and Balance Sheet.
ABC Company Income Statement					Last Year
							Quick Ratio
Sales			$1,000,000		$900,000
							Current Ratio
Cost of Goods Sold			$750,000		$650,000
Gross Profit			$250,000		$250,000		Accounts Receivable Turnover
Operating Expenses							Inventory Turnover
Selling Expenses		$50,000
Administrative Expenses		$85,000					Net Profit on Sales
Total Operating Expenses			$135,000		$127,000
							Gross Profit Margin
Operating Income			$115,000		$123,000
Interest Expense			$17,500		$17,500		Return on Assets
Net Income before Taxes			$97,500		$105,500		Return on Equity
Income Tax Expense			$34,125		$36,925
							Working Capital
Net Income after Taxes			$63,375		$68,575
							Debt to Equity
ABC Company Balance Sheet							Times Interest Earned
Current Assets
Cash			$5,500		$4,950
Accounts Receivable			$21,000		$18,900
Inventory			$17,500		$15,750
Total Current Assets			$44,000		$39,600
Non-Current Assets
Machinery & Equipment			$100,000		$90,000
Furniture & Fixtures			$15,000		$13,500
Transportation Equipment			$25,000		$22,500
Accumulated Depreciation			$17,500		$15,750
Total Non-Current Assets			$122,500		$110,250
Total Assets			$166,500		$149,850
Current Liabilities
Accounts Payable			$25,000		$22,500
Notes Payable			$15,500		$13,950
Wages Payable			$1,200		$1,080
Current Liabilities			$41,700		$37,530
Non-Current Liabilities
Long-Term Notes			$27,000		$24,300
Total Liabilities			$68,700		$61,830
Stockholders' Equity
Retained Earnings			$65,000		$58,500
Common Stock			$32,800		$29,520
Total Equity			$97,800		$88,020
Total Liabilities & Equity			$166,500		$149,850

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