The following are comparative data for Sunshine State Equipment, Inc., for the 3-year period 2011-2013.

Instructions:
1. From the foregoing data, calculate financial ratios for the three years 2011-2013 as follows (for all ratios using balance sheet amounts, use the end-of-year balance):
(a) Return on equity
(b) Return on sales
(c) Asset turnover
(d) Assets-to-equity ratio
(e) Return on assets
(f) Current ratio
(g) Dividend payout ratio
2. Based on the ratios calculated in (1), evaluate Sunshine State Equipment, Inc., in 2013 as compared with 2012.

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Income Statement Data 2013 2012 2011 $1,400,000 $1,100,000 $1,220,000 610,000 $640,000 500,000 610,000 250,000 300,000 220,000 360,000 152,000 180,000 131,000 $ 208,000 208,000 0 760,000 600,000 Gross profit on sales. 340,000 280,000 Income before taxes.. . - Income taxes . 120,000 89,000 Dividends paid 155,000 150,000 Net increase (decrease) in retained eamings 25.000 (19,000 $ . Balance Sheet Data 2011 Cash .. 250,000 350,000 40.000 690,000 125,000 20.000 $1,700,000 $1,500,000 $1,550,000 300,000 380,000 30,000 760,000 110,000 70,000 320,000 420,000 10,000 600,000 100,000 10,000 Intangible assets Liabilities and Stockholders' Equity 25,000 30.000 10,000 250,000 25,000 400,000 400,000 190,000 $1,700,000 $1,500,000 $1,550,000 25,000 29,000 10,000 300,000 10,000 500,000 510,000 196,000 25,000 5,000 4,000 300,00O 10,000 400,000 400,000 Income tax payable. . Miscellaneous current liabilities... . 896 bonds payable Deferred revenues (long term). Additional paid-in capital