Changes in Various Ratios Presented below is selected information for Brimmer Company: 2013 2012 Sales revenue Cost of goods sold $910,000 $840,000 575,000 542,000 Interest expense Income tax expense Net income 20,000 20,000 27,000 24,000 61,000 52,000 Cash flow from operating activities 65,000 55,000 Capital expenditures 42,000 45,000 Accounts receivable (net), December 31 126,000 120,000 Inventory, December 31 196,000 160,000 Stockholders' equity, December 31 450,000 400,000 Total assets. December 31 730,000 660,000 Required Calculate the following ratios for 2013. The 2012 results are given for comparative purposes. Round answers to one decimal place. Use 365 days in a year. 2012 1. Gross profit percentage 35.5% 2. Return on assets 8.3% 3. Return on sales 6.2% 2013 96 % 96 4. Return on common stockholders' equity (no preferred stock was outstanding) 13.9% 96 5. Accounts receivable turnover 8.0 I 6. Average collection period 45.6 days days 7. Inventory turnover 3.6 8. Times-interest-earned ratio 4.8 9. Operating-cash-flow-to-capital-expenditures ratio 1.2