Scully Corporation€™s comparative statements of financial position are presented below.

Scully€™s 2011 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 2011.
(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 ordinary shareholders€™ equity.
(i) Debt to total assetsratio.

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SCULLY CORPORATION Statements of Financial Position December 31 2011 2010 Land Building Accumulated depreciation Inventory Accounts receivable Cash 20.000 26,000 70,000 (15.000)(10,000) 7.000 23,400 3,700 70,000 10.000 21.200 4.300 $110.500 Total $120,100 Sharc capital-ordinary Retained earnings Accounts payable $ 75,000 9.000 20.000 31.100 $110.500 $120,100 23,130 12.370 Total