Computing and Using Common Ratios The following Information is for the year 2018 for Miller Company and Grand Company, which are in the same Industry: Miller Grand Current assets (ending) $40,000 $144,000 Long-term assets (ending) $80,000 $280,000 Current liabilities (ending) $16,000 $120,000 Long-term liabilities (ending) $40,000 $260,000 Current assets (beginning) $50,000 $170,000 Long-term assets (beginning) $75,000 $320,000 Current liabilities (beginning) $20,000 $180,000 Long-term liabilities (beginning) $40,000 $300,000 Net sales $300,000 $6,000 $1,800,000 $21,600 Net Income $49 6,000 shares Market price per share Number of shares outstanding (ending) Number of shares outstanding (weighted average) Required: 12,000 shares 15,000 shares 5,500 shares Compute the following: Required: Compute the following: Round "EPS and Asset turnover" answers to two decimal places and other answers to one decimal place. Miller Grand 2.5 0.4 X 1. Current ratio 2. Debt ratio 80 X % 96 3. Return on sales 96 % 4. Asset turnover 5. Return on equity 2.9 X % % 6. Price-earnings ratio 7. Earnings per share (EPS) 0.50 X