From the Balance Sheet and Income Statement Information below, calculate the following ratios:

[a.] Return on Sales

[b.] Current Ratio

[c.] Inventory Turnover – If there are no beginning inventory or ending inventory figures, then use the Merchandise Inventory figure.

ABC INC.

Income Statement

Year Ended December 31, 2018

Net Sales Revenue

$20,941

Cost of Goods Sold

7,055

Gross Profit

13,886

Operating Expenses

7,065

Operating Income

6,821

Interest Expense

210

Income Before Taxes

6,611

Income Tax Expense

2,563

Net Income

$4,048

ABC INC.

Balance Sheet

December 31, 2018

Assets

Current Assets

Cash

$2,450

Accounts Receivable

1,813

Merchandise Inventory

1,324

Prepaid Expenses

1,709

Total Current Assets

7,296

Long-Term Assets

18,500

Total Assets

$25,796

Liabilities

Current Liabilities

$7,320

Long-Term Liabilities

4,798

Total Liabilities

12,028

Stockholders’ Equity

Common Stock

6,568

Retained Earnings

7,200

Total Stockholders’ Equity

13,768

Total Liabilities & Stockholders’ Equity

$25,796

1.

NOTES: 1- Round up

2- Your responses should be in the following formats

a. XX%

b. x. xx

c. x. xx

Answer: question no. 1 -a. yes, the sides are in the ratio 2 : 5.question no. 2 -b. 59°question no. 3 -c. angles x and y are remote interior angles.question no. 4 -d. 90°, 45° and 45°question no. 5 -b. mn and qrstep-by-step explanation: question no. 1 -rs : xu = 3 : 7.5 = 2 : 5rt : x? = 6.4 : 16 = 2 : 5st : u? = 6 : 15 = 2 : 5as the ratios of all sides are equivalent, the triangles must be congruent and the sides must be proportional.therefore, the answer is: a. yes, the sides are in the ratio 2 : 5.question no. 2 -in the second diagram, angle b is the only letter not shown. therefore, the number must be equivalent to angle b.if we substitute the value of angle b as being 22° in the first diagram, we can now use the angle sum of a triangle to obtain the value of angle a.angle sum of a triangle = 180°therefore: let angle a = aa + 99 + 22 = 180a = 180 - 99 - 22a = 59°therefore, the answer is: b. 59°question no. 3 -angles x and y don't share the vertex of the triangle with the exterior angle w. remote interior angles don't share a vertex of a triangle with an exterior angle. this means that angles x and y are remote interior angles.therefore, the answer is: c. angles x and y are remote interior angles.question no. 4 -the sum of all interior angles of a triangle must be equivalent to 180°.90°, 45° and 45° are the only set of angle measures that are equivalent to 180°.therefore, the answer is: d. 90°, 45° and 45°question no. 5 -the only pair of sides stated in the options which are corresponding are mn and qr.therefore, the answer is: b. mn and qr.