Homework Answers
a. Times interest Earned = (129,360 + 19,580)/19,580
=7.61 Times
b. Return on Assets = 77,616/(541,220 + 509,960)/2
=14.77%
or 77,616/541,220 = 14.34%
c.Return on Common Stockholders equity =77,616/(261,390+216540)/2
=32.48%
d.Debt to Equity Ratio = 279,830/261,390 = 1.07
e. Current Ratio = 144,510/119,570 = 1.21
f. Quick Ratio = (26,060+ 48,280)/119,570 = 0.62
g. Accounts Receivable turnover ratio = 802,080/(48,280+ 50,020)/2
=16.32 Times
h. Number of days' sales in Receivables = 360/16.32 = 22 Days
i . Inventory Turnover ratio = 532,940/(65,220 + 62,040)/2
=8.38 Times
j. Number of days' sales in inventory = 360/8.38 = 43 Days
k =22 + 43 = 65 Days
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