32 Compute the following ratios for the current year only: 33 Gross margin percentage 34 Current ratio (rounded to two decimal places) 35 36 Acid-test ratio (rounded to two decimal places) Accounts receivable turnover (rounded to two decimal places) 37 Average collection period (rounded to the nearest whole day) 38 Inventory turnover ratio (rounded to two decimal places) 39 Average sales period (rounded to the nearest whole day) 40 Debt-to-equity ratio (rounded to two decimal places) 41 42 Times interest earned (rounded to two decimal places) Book value per share (rounded to two decimal places) 43 Earnings per share (rounded to two decimal places) 44 Dividend payout ratio (rounded to three decimal places) 45 Dividend yield ratio (rounded to three decimal places) 46 Price-earnings ratio (rounded to two decimal places) 47 48 49 19 Short-term bank loans 750,000 600,000 Net income $ 250,900 20 Accrued payables 550,000 395,000 21 Other current liabilities 275,000 223,400 Additional information: 22 Total current liabilities 1,825,000 1,443,400 Dividend per share paid in current year $ 1.00 23 Bonds payable, 10% 24 Total liabilities 25 Stockholders' equity: 575,000 2,400,000 400,000 1,843,400 Market price of shares at year end Par value of common stock per share 42.00 20.00 26 Common stock 27 Retained earnings 28 Total stockholders' equity 29 Total liabilities and stockholders' equity S 30 31 Required: 32 Compute the following ratios for the current year only: 1,150,000 1,135,000 2,285,000 1,150,000 941,600 2,091,600 Number of shares outstanding 4,685,000 $ 3,935,000 33 Gross margin percentage 34 Current ratio (rounded to two decimal places) 35 Acid-test ratio (rounded to two decimal places) Sheet1 READY B 100% 1 Recent financial statements for Zimmer, Inc. are as follows: 2 3 Zimmer Company Comparative Balance Sheet 4 5 Assets 6 Current assets: 7 Cash 8 Marketable securities 9 Accounts receivable, net 10 Inventory 11 Other current assets 12 Total current assets 13 Plant and equipment, net 14 Other assets 15 Total assets 16 Liabilities and Stockholders' Equity 17 Current Liabilities: 18 Accounts payable 19 Short-term bank loans 20 Accrued payables 21 Other current liabilities 22 Total current liabilities 23 Bonds payable, 10% This Year Last Year Zimmer Company Income Statement This Year $ 360,000 $ 310,000 Sales (all on account) $4,980,000 220,000 80,000 Cost of goods sold 2,988,000 775,000 700,000 Gross margin 1,992,000 925,000 355,000 195,000 750,000 Selling and administrative expenses Operating expenses 985,500 2,635,000 2,035,000 Depreciation and amortization 410,500 1,975,000 1,800,000 S 75,000 4,685,000 $ 3,935,000 100,000 General and administrative expenses Total selling and administrative expenses Net operating income 150,000 1,546,000 446,000 Interest expense 60,000 Net income before taxes 386,000 S 250,000 $ 225,000 Income taxes 135,100 750,000 600,000 Net income $ 250,900 550,000 395,000 275,000 223,400 Additional information: 1,825,000 575,000 1,443,400 Dividend per share paid in current year $ 1.00 400,000 Market price of shares at year end 42.00