Here are the year-end financial statements of Henkel Music P.O. 4a,b,c,e,5b,c,cl Store:

The market price of the stock on December 31, 19x7 is $50 per share. At the beginning of the year, stockholders’ equity was $175,000. The number of shares did not change during the year.
Instructions Determine the following items, showing the figures you used in your calculations (round off to two decimal places);
1. Working capital 2. Current ratio 3. Quick ratio 4. Merchandise inventory turnover 5. Number of days merchandise inventory is kept in stock 6. Rate of return on common stockholders’ equity 7. Earnings per share of common stock 8. Price-earnings ratio

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Revenue from Sales: Sales Cost of Goods Sold: Henkel Music Store Income Statement For Year Ended December 31, 19x7 Merchandise Inventory, Jan. 1, 19x7 Delivered Cost of Purchases Goods Available for Sale Less Merchandise Inventory, Dec. 31, 19x7 Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses (control) General Expenses (control) Total Operating Expenses Income from Operations Other Expenses: Interest Expense Income Before Income Tax Income Tax Expense Net Income $ 120 000 00 504 600 00 $ 624 600 00 132900 00 $168750 00 82 950 00 $ 81000000 491 700 00 $ 3183 00 00 251 700 00 $ 66 600 00 1140000 55200 00 9500 00 $ 45 700 00