The Byers Company presents the following condensed income statement for 2007 and condensed December 31, 2007 balance sheet:

Additional information:
1. The company's common stock and preferred stock were outstanding the entire year.
2. Dividends of $1.50 per share on the common stock and $6 per share on the preferred stock were declared in 2007.
3. On December 31, 2007, the common stock is selling for $20 per share.
4. The preferred stock has a liquidation value of $110 per share.
5. On January 1, 2007, the accounts receivable (net) balance was $24,000 and the total stockholders' equity was $246,000.
6. Of the company's net sales, 78% are on credit.
7. The company operates on a 365-day business year.

Required
On the basis of the preceding information, compute the following ratios for the Byers Company:
1. Earnings per share
2. Dividend yield
3. Return on stockholders' equity
4. Current
5. Acid-test
6. Receivables turnover (in days)
7. Interest coverage
8. Book value per common share
On the basis of applicable "rules of thumb," what information is revealed by the acid-test ratio that is not disclosed by the currentratio?

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Income Statement Sales (net) Less: $267,000 Cost of goods sold Operating expenses Interest expense Income taxes Total expenses $160,000 62,000 11,000 10,000 (243,000 24,000 Net income Balance Sheet Cash Receivables (net) Inventory Long-term investments Property and equipment (net) $ 10,000 Current liabilities S 40,000 110,000 50,000 100,000 45,000 55,000 $400,000 Total Liabilities and Stockholders Equity 400,000 22,000 56,000 30,000 282,000 Bonds payable, 10% Preferred stock, $100 par Common stock, $10 par Additional paid-in capital Retained earnings Total Assets