The comparative statements of Painter Tool Company are presented below.

All sales were on account.

Instructions
Compute the following ratios for 2015. (Weighted-average common shares in 2015 were
57,000.)
(a) Earnings per share.
(b) Return on common stockholders’ equity.
(c) Return on assets.
(d) Current ratio.
(e) Acid-test ratio.
(f) Accounts receivable turnover.
(g) Inventory turnover.
(h) Times interest earned.
(i) Asset turnover.
(j) Debt to assetsratio.

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PAINTER TOOL COMPANY Income Statement For the Years Ended December 31 2015 2014 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,818,500 1,011,500 807,000 499,000 308,000 $1,750,500 996,000 754,500 479,000 275,500 Interest expense Income before income taxes Income tax expense Net income 18,000 290,000 87,000 S203,000 14,000 261,500 77,000 184,500 PAINTER TOOL COMPANY Balance Sheets December 31 Assets 2015 2014 Current assets Cash Short-term investments Accounts receivable (net) Inventory 60,100 69,000 107,800 133,000 369,900 600,300 $970,200 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' Equity Current liabilities Accounts payable Income taxes payable $160,000 43,500 203,500 200,000 403,500 $145,400 42,000 187,400 200,000 387,400 Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings 280,000 286,700 566,700 $970,200 300,000 165,400 465,400 $852,800 Total stockholders' equity Total liabilities and stockholders equity