Comparative financial statement data of Tanfield, Inc. follow:

1. Market price of Tanfield's common stock: $ 86.58 at December 31, 2015, and $ 46.54 at December 31, 2014.

2. Common shares outstanding: 12,000 during 2015 and 10,000 during 2014 and 2013.

3. All sales are on credit.

Requirements

1. Compute the following ratios for 2015 and 2014:

a. Current ratio

b. Cash ratio

c. Times-interest-earned ratio

d. Inventory turnover

e. Gross profit percentage

f. Debt to equity ratio

g. Rate of return on common stockholders' equity

h. Earnings per share of common stock

i. Price/ earnings ratio

2. Decide

(a) Whether Tanfield's ability to pay debts and to sell inventory improved or deteriorated during 2015

(b) Whether the investment attractiveness of its common stock appears to have increased ordecreased.

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TANFIELD, INC. Comparative Income Statement Years Ended December 31, 2015 and 2014 2015 2014 $460,000 422,000 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Income From Operations Interest Expense Income Before Income Tax Income Tax Expense Net Income 239,000 221,000 138,000 83,000 13,000 70,000 19,000 $ 51.000 212,000 210,000 136,000 74,000 58,000 21,000 37,000 TANFIELD, INC. Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 2013 Assets Current Assets: 91,000 88,000 Cash Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets 113,000 21,000 106,000 158,000 144,000 16,000 364,000 217,000 204,000 3,000 370,000 176,000 Property, Plant, and Equipment Net Total Assets $ 581,000 546,000 602,000 Liabilities 227,000 240,000 117,000 344,000 Total Current Liabilities Long-tem Liabilities Total Liabilities 96,000 336,000 Stockholders' Equity Preferred Stock, 3% Common Stockholders' Equity, no par Total Liabilities and Stockholders' Equity 92,000 145,000 581,000 92,000 118,000 546,000 89,000