Selected year end financial statements of Overton Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2012, were inventory, $17,400; total assets, $94,900; common stock, $35,500; and retained earnings, $ 18,800.)
OVERTON CORPORATION
Income Statement
For Year Ended December 31, 2013
Sales . . . . . . . . . . . . . . . . . . . . . . $ 315,500
Cost of goods sold . . . . . . . . . . 236,100
Gross profit . . . . . . . . . . . . . . . . 79,400
Operating expenses . . . . . . . . . 49,200
Interest expense . . . . . . . . . . . . 2,200
Income before taxes . . . . . . . . . 28,000
Income taxes . . . . . . . . . . . . . . . 4,200
Net income . . . . . . . . . . . . . . . . $ 23,800
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Required:
Compute the following:
(1) Current ratio,
(2) Acid test ratio, (3) Days sales uncollected,
(4) Inventory turn over,
(5) Days sales in inventory, (6) Debt to equity ratio,
(7) Times interest earned,
(8) Profit margin ratio,
(9) Total asset turnover, (10) Return on total assets,
(11) Return on common stockholders equity.
Round to one decimal place, except for part 6 round to twodecimals.