Thornton Corporation reported these figures:

Thornton Corporation has 3,125,000 shares of common stock outstanding. Its stock has traded recently at $31.20 per share. You would like to gain a better understanding of Thornton Corporation's financial position. Assume all sales are on credit. Calculate the following ratios for 2017 and interpret the results:
a. Inventory turnover
b. Days' sales in receivables
c. Acid-test ratio
d. Times-interest-earned
e. Gross profit percentage
f. Operating income percentage
g. Return on stockholders' equity
h. Earnings per share
i. Price/earnings ratio

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Thornton Corporation Balance Sheets December 31, 2017 and 2016 (amounts In thousands) 2017 Thornton Corporatlon Income Statement For the Year Ended December 31, 2017 (amounts in thousands) 2017 13,140 1,980 11,160 660 10,500 500 10,000 7,000 3,000 2016 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating Income Less: Interest expense Income before Income taxes Less: Income tax expense Net Income Assets 2$ Current assets: 8 Cash 9 Accounts recelvable 10 Inventory 11 Other current assets Total current assets 5,700 S 2,100 1,000 3,950 12,750 S 23,500 36,250 S 2,700 1,860 800 IS 2,640 8,000 20,000 28,000 12 13 Other assets 14 Total assets 15 IS Llablitles 16 17 Total current liabilitles 18 Long-term llablitles 19 Total llablitles 20 15,000 $ 6,250 21,250 S 12,500 5,500 18,000 2$ Stockholders' equlty 21 22 Total common stockholders' equity 23 24 Total liabilitles and equity 15,000 10,000 36,250 S 28,000 IS 25