Here and on page 84 are financial statements of Ogleby Company.

OGLEBY COMPANY Income Statement For the Year Ended December 31, 2014 Net sales $2,218,500 Cost of goods sold 1,012,400 Selling and administrative expenses 906,000 Interest expense 78,000 Income tax expense 69,000 Net income $ 153,100 OGLEBY COMPANY Balance Sheet December 31, 2014 Assets Current assets Cash $ 60,100 Debt investments 84,000 Accounts receivable (net) 169,800 Inventory 145,000 Total current assets 458,900 Plant assets (net) 575,300 Total assets $1,034,200.

Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 160,000 Income taxes payable 35,500 Total current liabilities 195,500 Bonds payable 200,000 Total liabilities 395,500 Stockholders’ equity Common stock 350,000 Retained earnings 288,700 Total stockholders’ equity 638,700 Total liabilities and stockholders’ equity $1,034,200 Additional information: The net cash provided by operating activities for 2014 was $190,800. The cash used for capital expenditures was $92,000. The cash used for dividends was $31,000. The average number of shares outstanding during the year was 50,000.
Instructions

(a) Compute the following values and ratios for 2014. (We provide the results from 2013 for comparative purposes.)
(i) Working capital. (2013: $160,500)
(ii) Current ratio. (2013: 1.65:1)
(iii) Free cash flow. (2013: $48,700)
(iv) Debt to assets ratio. (2013: 31%)
(v) Earnings per share. (2013: $3.15)

(b) Using your calculations from part (a), discuss changes from 2013 in liquidity, solvency, and profitability.AppendixLO1