From the income statement (Figure 22.8) and balance sheet (Figure 22.9) of Aberson Company, compute the following for 2016: (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, and (m) return on common stockholders' equity. Assume all sales are on credit.

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ABERSON COMPANY COMPARATVE INCOME STATEMENT FOR YEARS ENDED DECEMBER 31, 2016, AND 2015 December 31 2016 2015 Net Credit Sales Cost of Goods Sold Gross Profit from Sales 410 00000 $376 00000 232 00000215 00000 178 00000 $161 00000 Operating Expenses: Selli General and Administrative 122 4 0000 $108 00000 22 4 0000 139 00000 $1304 0000 $39 00000 $ 30 60000 860000 34 80000 $ 22 00000 880000 24 3 6000 $ 13 2 0000 16 60000 Total Operating Expenses Operating Income Less Interest Expense 420000 Income Before Taxes Income Taxes 10 4 4 00o ABERSON COMPANY COMPARATIVE BALANCE SHEET DECEMBER 31, 2016, AND DECEMBER 31, 2015 December 31 Assets 2016 2015 Current Assets: Cash Accounts Receivable, Net Merchandise Inventory Prepaid Expenses $1100000$ 25 4 0000 3860oloo 312 00 00 602 0oloo 64 2 00 00 2 0000 1194 0000$ 124 0 0000 960000 Total Current Assets Plant and Equipme nt Office Equipment, Net Total Assets 62 60000$ 59 0 0000 $182 00000$ 183 0 0000 Liabilities Current Liabilities: Notes Payable Accounts Payable $ 3180000 30 2 00 00 700o0 12 18 00 00 Total Curre nt Liabilities Long-Tem Liabilities: Mortgage Payable Total Liabilities $34 60000$ 30 0 0000 $8340000$ 73 0 0000 Stockholders' Equity Common Stock, $10 par value Retained Eamings $ 63 00000 488 00 00 3560oloo 612 00 00 9860000$ 110 0 0000 $182 00000$ 183 0 0000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity