Question

Condensed balance sheet and income statement data for Pina Corporation are presented here. PINA CORPORATION Balance Sheets December 31 2017 2016 2015 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 32,000 22,000 $20,000 47,00050,000 97,000 102,00071,000 77,00052,000 358,000 $743,000 $618,000 $551,000 $ 87,000 82,000 72,000 152,000 92,00057,000 327,000 317,000307,000 115,000 $743,000 $618,000$551,000 52,000 62,000 500,000 370,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings 177,000 127,000

Answer 1

		2017	2016
Profit Margin	Net Income / Net Sales	12.9 %	11.5 %
Gross Profit Rate	Gross Profit / Net Sales	38.7 %	37.9 %
Asset Turnover	Net Sales / Average Assets	1.04 times	0.98 times
Earnings per Share ( EPS )	Net Income / Average Outstanding Common Shares	$ 2.83	$ 2.12
Price Earnings Ratio	Market Price / EPS	3 times	3.5 times
Payout Ratio	Dividends / Net Income	45.1 %	81.8 %
Debt to Assets Ratio	Total Liabilities / Total Assets	32.2 %	28.2 %

Dividends = Last year Retained Earnings Balance + Current Year Net Income - Current Year Retained Earnings Balance