The comparative statements of Larker Tool Company are presented below.

All sales were on account.

Instructions

Compute the following ratios for 2013. (Weighted-average common shares in 2013 were 57,000.)

(a) Earnings per share.

(b) Return on common stockholders? equity.

(c) Return on assets.

(d) Current.

(e) Acid-test.

(f) Receivables turnover.

(g) Inventory turnover.

(h) Times interest earned.

(i) Asset turnover.

(j) Debt to total assets.

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LARKER TOOL COMPANY Income Statement For the Years Ended December 31 2013 2012 $1,818,500 $1.750,500 Net sales Cost of goods sold 1,011.500 996,000 Gross profit Selling and administrative expense 807,000 754.500 516,000 479,000 Income from operations Other expenses and losses Interest expense 291.000 275,500 18,000 14,000 Income before income taxes 273,000 261,500 Income tax expense 81.000 77.000 $ 192.000 $ 184,500 Net income LARKER TOOL COMPANY Balance Sheets December 31 2013 Assets 2012 Current assets $ 60,100 $ 64,200 Cash Short-term investments 69,000 50,000 Accounts receivable (net) 117.800 102,800 Inventory 115,500 123,000 Total current assets 369,900 332,500 Plant assets (net) 600,300 520,300 $970,200 $852,800 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable $160,000 $145.400 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) Retained earnings 280,000 300,000 286,700 165,400 Total stockholders' equity 566,700 465.400 Total liabilities and stockholders' equity $970,200 $852.800