Need help figuring out these blanks, please. Thank you. LOGIC COMPANY Comparativ

Question

Need help figuring out these blanks, please. Thank you.

LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 2016 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses $23,800 $18,600 100 $22,800 $18,500 7,200 $12,000 $11,300 2017 1,000 10,800 Depreciation $1,180 840 4,400 740 540 $ 8,850 6,520 $ 3,150 $ 4,780 740 $ 2,110 4,040 1,616 $ 1,266 $ 2,424 5,800 1,030 840 Selling and administrative Research Miscellaneous Total operating expenses Income before interest and Interest expense Income before taxes Provision for taxes taxes 1,040 844 Net income

Explanation / Answer

Total debt to total asset ratio = Total Debt/ Total Asset

Total debt to total asset ratio (2017) = 39300/83600

                                                              = 0.47 or 47%

Total debt to total asset ratio (2016) = 29800/ 60200

                                                              = 0.495 or 49.5%

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