The comparative statements of Beulah Company are presented below.

Beulah Company
Income Statement
For the Years Ended December 31

Beulah Company
Statements of Financial Position
December 31

Additional data: 
The ordinary shares recently sold at £19.50 per share.

Instructions 
Compute the following ratios for 2014.
(a) Current.
(b) Acid-test.
(c) Accounts receivable turnover.
(d) Inventory turnover.
(e) Profit margin.
(f) Asset turnover.
(g) Return on assets.

(h) Return on ordinary shareholders€™ equity.

(i) Earnings per share.

(j) Price-earnings.

(k) Payout.

(l) Debt to total assets.

(m) Times interest earned.

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2014 2013 Net sales (all on account) £500,000 £420,000 Expenses Cost of goods sold Selling and administrative Interest expense 254,000 114,800 6,500 315,000 120,800 7,500 Income tax expense 20,000 15,000 Total expenses 463,300 390,300 £ 36,700 £ 29,700 Net income Assets 2014 2013 Plant assets (net) £423,000 £383,000 Current assets Inventory Accounts receivable (net) 80,000 60,000 75,000 85,000 18,000 21,000 Short-term investments 15,000 18,000 Cash Total current assets 204,000 168,000 Total assets £627,000 £551,000 Equity and Liabilities Equity Share capital-ordinary (£5 par) Retained earnings £150,000 223,000 £150,000 200,000 Total equity 373,000 350,000 Non-current liabilities Bonds payable 120,000 80,000 Current liabilities Accounts payable Income taxes payable 122,000 12,000 110,000 11,000 Total current liabilities 134,000 121,000 Total liabilities 254,000 201,000 Total equity and liabilities £627,000 £551,000