Problem
The information you need for this question is found in the Physician Care Services, Inc. (PCS) financial statements in Middleboro, pp. 102-103, Table 3.7 and Table 3.8. Table 3.7 presents a standard Income (revenue) and expense statement. This document describes PCS's financial activity over a fiscal year, which in this case we can assume is the same as the calendar year, though that is not always the case. Table 3.6 provides some of the figures needed to calculate the ratios you have been asked to calculate. Table 3.7 is PCS's balance sheet. This is a snapshot of its financial status at a single point in time at the close of business on December 31 for each of the years shown at the top of the table. Some of the figures needed to calculate the ratios will come from this table.
Calculate the following ratios for each of the three years: 2022, 2023, and 2024.