The 20X9 condensed SCI and the 20X9 and 20X8 condensed SFP for Georgian Ltd. are shown below. All sales are on credit. The company’s income tax rate is 28%.

Required:
Compute the following ratios for 20X9:
a. Return on assets after taxes
b. Times interest earned
c. Gross profit margin
d. Return on shareholders’ equity
e. Days in inventory
f. Accounts receivable turnover

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Condensed Statement of Comprehensive Income Year ended 31 December 20X9 Sales revenue (all on credit) Cost of goods sold Gross profit Operating expenses $40,000 22,500 17,500 12,100