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Accounting
The comparative statements of McGillis Company are presented her

The comparative statements of McGillis Company are presented her

The comparative statements of McGillis Company are presented here.

All sales were on account. Net cash provided by operating activities for 2010 was $220,000. Capital expenditures were $120,000, and cash dividends were $80,000.
Instructions
Compute the following ratios for 2010.
(a) Earnings per share.
(b) Return on common stockholders' equity.
(c) Return on assets.
(d) Current ratio.
(e) Receivables turnover.
(f) Average collection period.
(g) Inventory turnover.
(h) Days in inventory.
(i) Times interest earned.
(j) Asset turnover.
(k) Debt to total assets.
(l) Current cash debt coverage.
(m) Cash debt coverage.
(n) Free cashflow.

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McGILLIS COMPANY Income Statements For the Years Ended December 31 2010 2009 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Othe $1,890,540 1,058,540 832,000 506,000 326,000 $1,750,500 996,000 754,500 479,000 275,500 r expenses and losses 25,000 301,000 90,000 211,000 19,000 Interest expense Income before income taxes Income tax expense Net income 256,500 77,000 179,500 McGILLIS COMPANY Balance Sheets December 31 2010 2009 Assets Current assets 60,100 74,000 117,800 123,000 374,900 615,300 $990,200 Cash Short-term investments Accounts receivable Inventory 64,200 50,000 102,800 115,500 332,500 520,300 $852,800 Total current assets Plant assets (net) Total assets Liabilities and Stockholders Equit Current liabilities 2010 2009 Accounts payable Income taxes payable $160,000 43,500 203,500 210,000 413,500 $145,400 42,000 187,400 200,000 387,400 Total current liabilities Bonds payable Total liabilities Stockholders equity Retained earnings Common stock ($5 par) 290,000 286,700 576,700 $990,200 300,000 165,400 465,400 $852,800 Total stockholders' equity Total liabilities and stockholders' equity