Financial statements for Provident Electronics, Inc., are given in the Working Papers. The Working Papers provide other selected information and forms needed to complete the problem.

1. Calculate and record on the income statement the component percentages for the indicated items. Round the percentage calculations to the nearest 0.1%.

2. Calculate earnings per share. Round calculations to the nearest cent.

3. Use the statement of stockholders’ equity and the additional information supplied to calculate:

(a) equity per share of stock and

(b) the price-earnings ratio.

4. Use the balance sheet and the additional information supplied to calculate the:

(a) accounts receivable turnover ratio,

(b) rate earned on average stockholders’ equity, and

(c) rate earned on average total assets.