Freedom Corporation reported these figures:

Freedom Corporation has 2,500,000 shares of common stock outstanding. Its stock has traded recently at $32.90 per share. You would like to gain a better understanding of Freedom Corporation's financial position. Assume all sales are on credit. Calculate the following ratios for 2017 and interpret the results:
a. Inventory turnover
b. Days' sales in receivables
c. Acid-test ratio
d. Times-interest-earned
e. Gross profit percentage
f. Operating income percentage
g. Return on stockholders' equity
h. Earnings per share
i. Price/earnings ratio

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Freedom Corporatlon Balance Sheets December 31, 2017 and 2016 (amounts In thousands) 2017 Freedom Corporatlon Income Statement For the Year Ended December 31, 2017 (amounts In thousands) 2016 2017 15,330 5,120 10,210 3,010 7,200 300 Assets Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating Income Less: Interest expense Income before Income taxes Less: Income tax expense Net Income 6. 7 Current assets: Cash Accounts recelvable 10 Inventory 11 Other current assets Total current assets 3,720 S 2,600 2,460 1,300 1,990 8,350 18,000 26,350 2$ 3,000 1,900 2,300 10,920 S 20,000 30,920 S 6,900 4,550 2.350 13 Other assets 14 Total assets Llablitles 16 17 Total current llabilitles 18 Long-term liabilities 19 Total llablitles 12,000 $ 7,920 19,920 S 10,500 8,050 18,550 20 21 22 Total common stockholders' equity Stockholders' equlty 11,000 7,800 23 24 Total llabilitles and equity 30,920 S 26,350 25 12345 7099ENANA 9NNNNNN