Problem: A condensed balance sheet for Bradford Corporation Prepared at the end of the year appears as follows:
During the year the company earned a gross profit of $ 1,116,000 on sales of $ 2,950,000. Accounts receivable, inventory and plant assets remained almost constant in amount throughout the year.
Compute the following:
a. Current ratio.
b. Quick ratio.
c. Working capital.
d. Debt ratio.
e. Accounts receivable turnover (all sales were on credit).
f. Inventory turnover.
g. Book value per share of capital stock.