The comparative statements of Beulah Company are presented below. BEULAH COMPANY Income Statement For the Years Ended December 31 2014 2013 Net sales (all on account) $500,000 $420,000 Expenses Cost of goods sold 315,000 255,000 Selling and administrative 120,000 114,000 Interest expense 8,800 6,200 Income tax expense 20,400 14,400 Total expenses 464,200 389,600
Net Income $ 35,800 $ 30,400 BEULAH COMPANY Balance Sheets December 31 Assets 2014 2013 Current assets Cash $ 21,600 $ 19,000 Short-term investments 17,300 15,300 Accounts receivable (net) 85,100 73,000 Inventory 79,900 59,000 Total current assets 203,900 166,800 Plant assets (net) 423,000 383,000 Total assets $626,900 $549,800 Liabilities and Stockholders Equity Current liabilities Accounts payable $122,000 $109,000 Income taxes payable 12,200 11,700 Total current liabilities 134,000 120,700 Long-term liabilities Bonds payable 121,000 79,000 Total liabilities 255,200 199,900
Stockholders equity Common stock ($5 par) 153,000 153,000 Retained earnings 218,000 196,000 Total stockholders equity 371,700 349,000 Total liabilities and stockholders equity $626,900 $549,800 Additional data:
The common stock recently sold at $20.00 per share. Compute the following ratios for 2014. (Round Earnings per share and Acid-test ratio to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% (a) Current ratio :1 (b) Acid-test ratio :1 (c) Accounts receivable turnover times (d) Inventory turnover times (e) Profit margin % (f) Asset turnover times (g) Return on assets % (h) Return on common stockholders equity % (i) Earnings per share $ (j) Price-earnings ratio times (k) Payout ratio % (l) Debt to total assets % (m) Times interest earned times.