Problem 13-43 Calculating financial statement ratios Selected current year-end financial statements of Overton Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $17,400, total assets, $94,900; common stock, S35,500; and retained earnings, $18,800.) OVERTON CORPORATION Income Statement For Current Year Ended December 31 OVERTON CORPORATION Balance Sheet December 31 of Current Year Assets Cash ... Sales .... Cost of goods sold...... Gross profit.. Operating expenses..... Interest expense....... Income before taxes.... Income tax expense..... Net Income ..... .. $ 11,500 3,300 2,600 $315,500 236,100 79,400 49,200 2,200 28.000 4,200 $ 23,800 $ 6,100 6,900 15,100 13,500 2.000 73,900 Short-term investments .... Accounts receivable, net... Merchandise inventory.... Prepaid expenses........ Plant assets, net. Liabilities and Equity Accounts payable............... Accrued wages payable.......... Income taxes payable Long-term note payable, secured by mortgage on plant assets.... Common stock. $5 par value...... Retained earnings. Total liabilities and equity ........ 30,000 35,000 35.100 $117.500 Total assets ............. $117.500 Check Ace r 1610 1: Inventory tumover, 153 Required Compute the following: (1) current ratio, (2) acid-test ratio. (3) days' sales uncollected. (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio. (7) times interest earned. (8) profit margin ratio (9) total asset turnover. (10) return on total assets, and (11) return on common stockholders' equity. Round to one decimal place; for part 6, round to two decimals