Suppose, at December 31, 2014, Kerr Consulting Corporation has the following balance sheet.

Additional information: Kerr Consulting Corporation incurred interest expense of $2,400 during 2014. Net income for the year ended December 31, 2014, was $38,910. The market price of Kerr Consulting Corporation's 1,500 common shares is $50.00 per share on December 31, 2014.
Required
Using this information, calculate the following ratios for Kerr Consulting Corporation:
a. Current ratio
b. Debt ratio
c. Earnings per share
d. Price/earnings ratio
e. Rate of return on total assets
f. Rate of return on common shareholders' equity

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KERR CONSULTING CORPORATION Balance Sheet December 31, 2014 Current assets: 5,000 Accounts receivable Total current assets 7,620 10,000 Equipment 20,000 Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Salary payable $ 350 Total current liabilities Notes payable Shareholders' equity: Common shares 30,617 $93,467 Retained earnings Total liabilities and shareholders equity