Instructions:Compute the indicated ratios at December 31, 2014, or for the year endDecember 31, 2014, as appropriate.Report answers to one decimal place.

Return on Assets.

Acid-Test Ratio.

Profit Margin.

Payout Ratio.

Debt to Total Assets Ratio.

Asset Turnover.

Receivables Turnover.

Price-Earnings Ratio.

Current Ratio.

Comparative Balance Sheet December 31, Assets 2014 2013 Cash $8,000 $12,000 Accounts receivable (net) 64,000 48,000 Inventory 40,000 36,000 Land 24,000 16,000 Machinery 124,000 96,000 Accumulated depreciation (40,000) (28,000) Total Assets $220,000 $180,000 Liabilities & Stockholder's Equity Accounts Payable $40,000 $32,000 Long-Term Notes Payable 70,000 58,000 Common Stock ($2 Par Value) 80,000 80,000 Retained Earnings 30,000 10,000 Total Liabilities & Stockholder's Equity $220,000 $180,000 Advantage Corporation Income Statement For the Year Ended 12/31/14 Sales $720,000 Less: Sales Returns & Allowances 20,000 Net Sales $700,000 Cost of Goods Sold 550,000 Gross Profit 150,000 Selling Expenses 42,000 Administrative Expenses 28,000 Income Before Income Taxes 80,000 Income Tax Expense 24,000 Net Income $56,000 Financial statements for Advantage Corporation are presented above. Additional Information - All sales were on account. - Cash dividends were declared and paid during 2014. - The market price of Advantage's common stock was $25 on December 31, 2013, and $28 on December 31, 2014. Instructions: Compute the indicated ratios at December 31, 2014, or for the year end December 31, 2014, as appropriate. Report answers to one decimal place. Return on Assets. Acid-Test Ratio. Profit Margin. Payout Ratio. Debt to Total Assets Ratio. Asset Turnover. Receivables Turnover. Price-Earnings Ratio. Current Ratio