From the income statement (Figure 22.10) and balance sheet (Figure 22.11) of Austin Company, compute the following

Question:

From the income statement (Figure 22.10) and (Figure 22.11) of Austin Company, compute the following for 2013:
In Figure 22.10

From the income statement (Figure 22.10) and balance sheet (Figure

(a) Current ratio,
(b) Acid test ratio,
(c) Accounts receivable turnover,
(d) Average collection period,
(e) Inventory turnover,
(f) Asset turnover,
(g) Debt to total assets,
(h) Debt to stockholders€™ equity,
(i) Times interest earned,
(j) Gross profit rate,
(k) Return on sales,
(l) Return on total assets,
In Figure 22.11
AUSTIN COMPANY
COMPARATIVE BALANCE SHEET
DECEMBER 31, 2013, AND DECEMBER 31, 2012

(m) Return on common stockholders€™equity

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...