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Compute the current ratio debt ratio return on sales return

Question - The following information for SuperStar Company is provided:

Current Assets $215,000

Long-term assets 780,000

Current Liabilities 120,000

Long-term liabilities 330,000

Owners' Equity 545,000

Sales for year 1,875,000

Net income for year 178,000

Average market price per share 90.00

Average number of shares outstanding 50,000

Required:

1. Compute the current ratio, debt ratio, return on sales, return on equity, asset turnover, and price-earnings ratio.

2. What do these ratios show for SuperStar Company?

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Accounting Basics: Compute the current ratio debt ratio return on sales return

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