Consider the following information:
Salinas Limited
Balance Sheet
At December 31, 2017

Salinas Limited
Income Statement
For the Year Ended December 31, 2017

Assume that 80% of sales are on credit, that the average of all balance sheet items is equal to the year-end figure, that all preferred share dividends have been paid, and that the number of common shares outstanding is 10.
Required: Calculate the following ratios and percentages
1. Current ratio
2. Return on total assets
3. Sales to total assets
4. Acid-test ratio
5. Times interest earned
6. Earnings per common share
7. Accounts receivable collection period
8. Return on shareholders' equity
9. (Appendix) Scott formula.

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Assets Liabilities and Shareholders' Equity 72 Accounts payable $60 150 Cash Accounts receivable Merchandize inventory Prepaid expenses Property, plant, and equipment, Bank loan, non-current 88 100 40 Preferred shares (10%) Common shares 60 250 100 S620 at carrying amount Total assets 320 Retained earnings S620 Total liabilities and shareholders' equity Sales Cost of goods sold Gross profit Operating expenses $240 144 96 $44 Salaries Depreciation 6 50 46 8 38 18 20 Income from operations Less: Interest Income before income taxes Less: Income taxes Net income