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.

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