Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

# Set up an income statement, assignment help

Complete the following abbreviatedfinancial statements, and calculate per share ratios indicated. (Hint: Start bysubtracting the formula for the quick ratio from that for the current ratio andequating that to the numerical difference.)

TribkeEnterprises collected the following data from its financial reports for 2012:

**Stockprice $18.37**

Inventorybalance $300,000

Expenses (excludingCOGS) $1,120,000

Shares outstanding 290,000

Average issue price of shares $5.00

Gross margin % 40%

Interest rate 8%

TIE ratio 8

Inventoryturnover 12 x

Currentratio 1.5

Quickratio .75

Fixed assetturnover 1.5

**Complete thefollowing abbreviated financial statements, and calculate per share ratiosindicated. (Hint: Start by subtracting the formula for the quick ratio fromthat for the current ratio and equating that to the numerical difference.)**