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The comparative statements of Corbin Company are presented below.

The comparative statements of Corbin Company are presented below.


CORBIN COMPANY

Income Statement

For the Years Ended December 31

2017

2016

Net sales (all on account) $600,500

$519,000

Expenses    Cost of goods sold 414,300

353,900    

Selling and administrative 120,500

113,600  

  Interest expense 7,000

5,500  

  Income tax expense 18,000

13,000      

Total expenses 559,800

486,000

Net income$ 40,700$ 

33,000



CORBIN COMPANY

Balance Sheets

December 31

Assets

2017

2016

Current assets    Cash$ 20,500

$ 17,600    

Short-term investments 17,000

14,400    

Accounts receivable (net)85,600

73,600   

 Inventory 90,000

70,600    

  Total current assets 213,100

176,200

Plant assets (net)422,000

382,900

Total assets$635,100

$559,100

Liabilities and Stockholders' Equity

Current liabilities    Accounts payable$122,400

$110,200 

   Income taxes payable 23,400

20,800   

   Total current liabilities 145,800

131,000

Long-term liabilities    Bonds payable 119,800

79,100     

 Total liabilities 265,600

210,100

Stockholders' equity    Common stock ($5 par)150,200

150,200    

Retained earnings 219,300

198,800    

  Total stockholders' equity 369,500

349,000

Total liabilities and stockholders' equity$635,100

$559,100

Additional data:


The common stock recently sold at $20.80 per share.


Compute the following ratios for 2017.


(a)Current ratio.


(b)Acid-test ratio.


(c)Accounts receivable turnover.


(d)Inventory turnover.


(e)Profit margin.


(f)Asset turnover.


 (g)Return on assets.


(h)Return on common stockholders' equity.


(i)Earnings per share.



(j)Price-earnings ratio.


 (k)Payout ratio.


(l)Debt to assets ratio.


(m)Times interest earned.


 times

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