Compute the following ratios for 2012. (Weighted average common shares in 2012 were 57,000, and all sales were on account.)(Round earnings per share, current ratio and acid-test ratio to 2 decimal places, e.g. 10.50. Round other answers to 1 decimal place

Compute the following ratios for 2012. (Weighted average common shares in 2012 were 57,000, and all sales were on account.)(Round earnings per share, current ratio and acid-test ratio to 2 decimal places, e.g. 10.50. Round other answers to 1 decimal place

The comparative statements of Villa Tool Company are presented below.


VILLA TOOL COMPANY

Income Statement

For the Year Ended December 31



2012
2011

Net sales $1,818,500
$1,750,500

Cost of goods sold

1,011,500


996,000


Gross profit 807,000
754,500

Selling and administrative expense

516,000


479,000


Income from operations 291,000
275,500

Other expenses and losses



Interest expense

18,000


14,000


Income before income taxes 273,000
261,500

Income tax expense

81,000


77,000


Net income

$ 192,000


$ 184,500







VILLA TOOL COMPANY

Balance Sheets

December 31


Assets 2012
2011

Current assets



Cash $ 60,100
$ 64,200

Short-term investments 69,000
50,000

Accounts receivable (net) 117,800
102,800

Inventory

123,000


115,500


Total current assets

369,900


332,500


Plant assets (net)

600,300


520,300


Total assets

$970,200


$852,800







Liabilities and Stockholders’ Equity



Current liabilities



Accounts payable $160,000
$145,400

Income taxes payable

43,500


42,000


Total current liabilities

203,500


187,400


Bonds payable

200,000


200,000


Total liabilities

403,500


387,400


Stockholders’ equity



Common stock ($5 par) 280,000
300,000

Retained earnings

286,700


165,400


Total stockholders’ equity

566,700


465,400


Total liabilities and stockholders’ equity

$970,200


$852,800

Compute the following ratios for 2012. (Weighted average common shares in 2012 were 57,000, and all sales were on account.)(Round earnings per share, current ratio and acid-test ratio to 2 decimal places, e.g. 10.50. Round other answers to 1 decimal place, e.g. 10.5.)

(a)Earnings per share$(b)Return on common stockholders’ equity%(c)Return on assets%(d)Current:1(e)Acid-test:1(f)Receivables turnovertimes(g)Inventory turnovertimes(h)Times interest earnedtimes(i)Asset turnovertimes(j)Debt to total assets%


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