The comparative statements of Larker Tool Company are presented below.

All sales were on account.

Instructions

Compute the following ratios for 2014. (Weighted-average common shares in 2014 were 60,000.)

(a) Earnings per share. 

(b) Return on common stockholders’ equity. 

(c) Return on assets. 

(d) Current. 

(e) Acid-test. 

(f) Receivables turnover.

(g) Inventory turnover.

(h) Times interest earned.

(i) Asset turnover.

(j) Debt to total assets.

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Larker Tool Company Income Statement For the Years Ended December 31 2014 2013 Net sales Cost of goods sold Gross profit Selling and administrative expense Income from operations Other expenses and losses $1,818,500 $1,750,500 996,000 754,500 479,000 275,500 1011,500 807,000 516,000 291,000 15,000 Interest expense Income before income taxes Income tax expense Net income 14,000 261,500 77,000 $184,500 276,000 84,000 192,000 Larker Tool Company Balance Sheets December 31 Assets 2014 2013 Current assets 60,100 64,200 50,000 102,800 115,500 332,500 520,300 $852,800 Cash Short-term investments Accounts receivable (net) Inventory 69,000 105,750 110,950 345,800 600.300 $946,100 Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equit Current liabilities unts payable Income taxes payable $160,000 $145,400 42,000 187,400 200,000 387,400 43,500 203,500 200,000 403,500 Total current liabilities Bonds payable Total liabilities Stockholders equity Retained earnings Common stock ($5 par) 300,000 242,600 300,000 Total stockholders' equity Total liabilities and stockholders equity 165,400 465,400 $946,100 $852,800 542,600