The financial statements of the Lone Pine Company follow.

Instructions Compute the following items for Lone Pine Company for 20X2, rounding all calculations to two decimal places when necessary:
a. Quick ratio
b. Current ratio
c. Inventory-turnover ratio
d. Accounts-receivable-turnover ratio
e. Return-on-assets ratio
f. Net-profit-margin ratio
g. Return-on-common-stockholders' equity
h. Debt-to-total assets
i. Number of times that interest is earned

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LONE PINE COMPANY Comparative Balance Sheets December 31, 20X2 and 20X1 ($000 Omitted) 20X1 20X2 Assets Current Assets $ 600 Cash and Short-Term Investments $400 Accounts Receivable (net) 3,000 2,400 Inventories 2,000 2,200 $5,200 Total Current Assets $5,400 Property, Plant, and Equipment $ 600 $1,700 Land 1,500 Buildings and Equipment (net) 1,000 Total Property, Plant, and Equipment $3,200 $1,600 Total Assets $8,600 $6,800 Liabilities and Stockholders' Equity Current Liabilities S1,700 Accounts Payable Notes Payable $1800 1,100 1,900 Total Current Liabilities $2,900 $3,600 Long-Term Liabilities Bonds Payable 4,100 2,100 Total Liabilities $7,000 $5,700 Stockholders' Equity $ 200 $ 200 Common Stock Retained Eamings 900 1,400 Total Stockholders' Equity $1,600 S1,100 Total Liabilities and Stockholders' Equity $8,600 $6,800 LONE PINE COMPANY Statement of Income and Retained Eamings For the Year Ending December 31,20X2 (S000 Omitted) Net Sales* $36,000 Less: Cost of Goods Sold $20,000 Selling Expense Administrative Expense Interest Expense Income Tax Expense 6,000 4,000 400 2,000 32,400 Net Income $3,600 Retained Eamings, Jan. 1 900 $4,500 Cash Dividends Declared and Paid 3,100 Retained Eamings, Dec. 31 $1,400