Here are the comparative statements of Ultra Vision Company:

\section*{Instructions}
Compute these values and ratios for 1998:

(a) Current ratio

(d) Profit margin ratio

(b) Working capital

(e) Return on assets ratio

(c) Debt to total assets ratio

Transcribed Image Text:

ULTRA VISION COMPANY Income Statement For the Year Ended December 31 1998 1997 Net sales (all on account) $600,000 $520,000 Expenses Cost of goods sold 415,000 354,000 Selling and administrative expense 120,800 114,800 Interest expense 7,200 6,000 Income tax expense 18,000 14,000 Total expenses 561,000 488,800 Net income $ 39,000 $ 31,200