Match each ratio or percentage with its formula by entering the appropriate letter for each numbered item.

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Ratios or Percentages Formula 1. Current ratio 2. Net profit margin A. Net income ÷ Net sales revenue B. (Net sales revenue – Cost of goods sold) : Netsales C. Current assets ÷ Current liabilities revenue 3. Inventory turnover ratio 4. Gross profit percentage 5. Fixed asset turnover 6. Return on equity D. Cost of goods sold ÷ Average inventory E. Net credit sales revenue - Average netreceivables F. Net income ÷ Average number of common shares outstanding 7. Times interest earned 8. Debt-to-assets ratio G. Total liabilities ÷ Total assets 9. Price/earnings ratio H. (Net income + Interest expense + Income taxexpense) ÷ Interest expense I. Current market price per share ÷ Earningsper share J. Net income ÷ Average total shareholders' equity 10. Receivables turnover ratio 11. Earnings per share K. Net sales revenue ÷ Average net fixed assets