# Complete the following abbreviatedfinancial statements, and

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 $18.37Inventorybalance $300,000Expenses (excludingCOGS) $1,120,000Shares outstanding 290,000Average issue price of shares $5.00Gross margin % 40%Interest rate 8%TIE ratio 8Inventoryturnover 12 xCurrentratio 1.5Quickratio .75Fixed assetturnover 1.5Complete 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.)