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The following ratios have been computed for Morgan Company for 2024. Profit margin Times...

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Accounting

The following ratios have been computed for Morgan Company for 2024.
Profit margin
Times interest earned
Accounts receivable turnover
Acid-test ratio
Current ratio
Debt to total assets ratio
12.5%
8 times
4 times
2:1
3:1
20%
2:1
3:1
20%
Morgan Company's 2024 financial statements with missing information follow:
MORGAN COMPANY
Comparative Statements of Financial Position
December 31,
Assets
Property, plant, and equipment (net)
Inventory
Accounts receivable (net)
Short-term Investments
Cash
Total assets
Equity and liabilities
Share capital - ordinary
Retained earnings
Bonds payable
Accounts payable
Short-term notes payable.
Total equity and liabilities
MORGAN COMPANY
Income Statement
For the Year Ended December 31,2024
Net sales
Cost of goods sold.
Gross profit
Expenses:
Depreciation expense
Selling expenses
Administrative expenses
Income from operations
Interest expense
Income before income taxes.
Income tax expense
Net income
$200,000
75,000125,000
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