Canadian Bacon Inc. financial statements are presented in the table below.

Based on the information in the table, caluclate the firmâs the net-working capital â to-sales ratio.

Round the answers to two decimal places in percentage form.

Balance Sheet December 31, 2012

Cash and marketable securities $198,000 Accounts payable $288,000

Accounts receivable $469,000 Notes payable $65,000

Inventories $577,000 Accrued expenses $84,000

Prepaid expenses $15,700 Total current liabilities $437,000

Total current assets $1,259,700 Long-term debt $237,000

Gross fixed assets $1,954,000 Par value and paid-in-capital $199,000

Less: accumulated depreciation $476,000 Retained Earnings $1,864,700

Net fixed assets $1,478,000 Common Equity 2,063,700

Total assets $2,737,700 Total liabilities and ownerâs equity $2,737,700

Income Statement, Year of 2012

Net sales (all credit) $7,546,600.00

Less: Cost of goods sold $6,112,746.00

Selling and administrative expenses $349,000.00

Depreciation expense $145,000.00

EBIT $939,854.00

Interest expense $49,500.00

Earnings before taxes $890,354.00

Income taxes $356,141.60

Net income $534,212.40

Question

Canadian Bacon Inc. financial statements are presented in the table below.

Based on the information in the table, caluclate the firmâs the net-working capital â to-sales ratio.

Round the answers to two decimal places in percentage form.

Balance Sheet December 31, 2012

Cash and marketable securities	$198,000	Accounts payable	$288,000
Accounts receivable	$469,000	Notes payable	$65,000
Inventories	$577,000	Accrued expenses	$84,000
Prepaid expenses	$15,700	Total current liabilities	$437,000
Total current assets	$1,259,700	Long-term debt	$237,000
Gross fixed assets	$1,954,000	Par value and paid-in-capital	$199,000
Less: accumulated depreciation	$476,000	Retained Earnings	$1,864,700
Net fixed assets	$1,478,000	Common Equity	2,063,700
Total assets	$2,737,700	Total liabilities and ownerâs equity	$2,737,700

Income Statement, Year of 2012

Net sales (all credit)	$7,546,600.00
Less: Cost of goods sold	$6,112,746.00
Selling and administrative expenses	$349,000.00
Depreciation expense	$145,000.00
EBIT	$939,854.00
Interest expense	$49,500.00
Earnings before taxes	$890,354.00
Income taxes	$356,141.60
Net income	$534,212.40

Cash and marketable securities	$112,000	Accounts payable	$211,000
Accounts receivable	$325,000	Notes payable	$51,500
Inventories	$426,000	Accrued expenses	$50,100
Prepaid expenses	$10,700	Total current liabilities	$312,600
Total current assets	$873,700	Long-term debt	$225,000
Gross fixed assets	$1,514,000	Par value and paid-in-capital	$117,000
Less: accumulated depreciation	$315,000	Retained Earnings	$1,418,100
Net fixed assets	$1,199,000	*Common Equity*	*1,535,100*
Total assets	$2,072,700	Total liabilities and ownerâs equity	$2,072,700

Unlock all answers

Cash and marketable securities	$132,000	Accounts payable	$399,000
Accounts receivable	$311,000	Notes payable	$98,500
Inventories	$512,000	Accrued expenses	$89,300
Prepaid expenses	$11,300	Total current liabilities	$586,800
Total current assets	$966,300	Long-term debt	$799,400
Gross fixed assets	$2,104,000	Par value and paid-in-capital	$298,000
Less: accumulated depreciation	$398,000	Retained Earnings	$988,100
Net fixed assets	$1,706,000	Common Equity	1,286,100
Total assets	$2,672,300	Total liabilities and ownerâs equity	$2,672,300

Net sales (all credit)	$4,276,600.00
Less: Cost of goods sold	$3,292,982.00
Selling and administrative expenses	$349,000.00
Depreciation expense	$148,000.00
EBIT	$486,618.00
Interest expense	$49,600.00
Earnings before taxes	$437,018.00
Income taxes	$174,807.20
Net income	$262,210.80

Net sales (all credit)	$3,256,600.00
Less: Cost of goods sold	$2,572,714.00
Selling and administrative expenses	$323,000.00
Depreciation expense	$115,000.00
EBIT	$245,886.00
Interest expense	$29,600.00
Earnings before taxes	$216,286.00
Income taxes	$86,514.40
Net income	$129,771.60