The comparative statements of Corbin Company are presented below and on page 884.

Additional data:
The common stock recently sold at $19.50 per share.
Instructions
Compute the following ratios for 2015.
(a) Current ratio.
(b) Acid-test ratio.
(c) Accounts receivable turnover.
(d) Inventory turnover.
(e) Profit margin.
(f) Asset turnover.
(g) Return on assets.
(h) Return on common stockholders’ equity.
(i) Earnings per share.
(j) Price-earnings ratio.
(k) Payout ratio.
(l) Debt to assets ratio.
(m) Times interestearned.

Transcribed Image Text:

CORBIN COMPANY Income Statement For the Years Ended December 31 2015 $595,000 2014 Net sales (all on account) $520,000 Cost of goods sold Selling and administrative Interest expense Income tax expense 415,000 120,800 354,000 114,800 7,800 6,000 15,000 558,600 S 36,400 14,000 488,800 31,200 Total expenses Net income CORBIN COMPANY Balance Sheets December 31 Assets 2015 2014 Current assets Cash Short-term investments Accounts receivable (net) Inventory 21,000 18,000 91,000 85,000 215,000 423,000 638,000 $ 18,000 15,000 74,000 70,000 Total current assets Plant assets (net) Total assets 177,000 383,000 $560,000 Liabilities and Stockholders' Equity Current liabilities 2015 2014 Accounts payable Income taxes payable $122,000 23,000 145,000 $110,000 20,000 130,000 Total current liabilities Long-term liabilities Bonds payable 120,000 265,000 80,000 210,000 Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings 150,000 223,000 373,000 $638,000 150,000 200,000 350,000 $560,000 Total stockholders' equity Total liabilities and stockholders' equity