Scully Corporation’s comparative balance sheets are presented below.

Scully’s 2010 income statement included net sales of $100,000, cost of goods sold of $60,000, and net income of $15,000.

Instructions

Compute the following ratios for 2010.

(a) Current ratio.

(b) Acid-test ratio.

(c) Receivables turnover.

(d) Inventory turnover.

(e) Profit margin.

(f) Asset turnover.

(g) Return on assets.

(h) Return on common stockholders’ equity.

(i) Debt to total assets ratio.

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SCULLY CORPORATION Balance Sheets December 31 2010 2009 $ 4,300 $ 3,700 23,400 7,000 26,000 Cash Accounts receivable 21,200 Inventory 10,000 20,000 70,000 (15,000) $110,500 $ 12,370 Land 70,000 Building Accumulated depreciation (10,000) $120,100 Total $ 31,100 69,000 20,000 Accounts payable Common stock 75,000 Retained earnings 23,130 $110,500 $120,100 Total