The comparative statements of Corbin Company are presented below.
For the Years Ended December 31
Net sales (all on account) $600,500
Expenses Cost of goods sold 414,300
Selling and administrative 120,500
Interest expense 7,000
Income tax expense 18,000
Total expenses 559,800
Net income$ 40,700$
Current assets Cash$ 20,500
Short-term investments 17,000
Accounts receivable (net)85,600
Total current assets 213,100
Plant assets (net)422,000
Liabilities and Stockholders' Equity
Current liabilities Accounts payable$122,400
Income taxes payable 23,400
Total current liabilities 145,800
Long-term liabilities Bonds payable 119,800
Total liabilities 265,600
Stockholders' equity Common stock ($5 par)150,200
Retained earnings 219,300
Total stockholders' equity 369,500
Total liabilities and stockholders' equity$635,100
The common stock recently sold at $20.80 per share.
Compute the following ratios for 2017.
(c)Accounts receivable turnover.
(g)Return on assets.
(h)Return on common stockholders' equity.
(i)Earnings per share.
(l)Debt to assets ratio.
(m)Times interest earned.
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