1.40 2.50 $300,000 3 Beginning Selected year-end financial statements of Overton Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2017, were inventory, $17,400; total assets, $94,900; common stock, $35,500; and retained carnings, $18,800.) Problem 13-48 Calculation of financial statement ratios P3 OVERTON CORPORATION Balance Sheet December 31,2018 OVERTON CORPORATION Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses.... Interest expense Income before taxes. Income tax expense.... Net income Liabilities and Equity Assets Cash. .. Short-term investments Accounts receivable, Merchandise inventory.. Prepaid expenses Plant assets, net . 11,500 $ 6,100 Accounts payable $315,500 236,100 79,400 49,200 2,200 28,000 4,200 $ 23,800 3,300 2,600 ble, net15,100Income taxes payable 13,500 2,000 73,900 Long-term note payable, secured 30,000 35,000 35,100 $117,500 by mortgage on plant assets Common stock, $5 par value Retained earnings. $117,500 Total liabilities and equity. ... Total assets Required Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory heck iventory turnover, 15.3 turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margirn ratio, (9) total asset turnover, (10) return on total assets, and (1) return on common stockholders' equity. Round to one decimal place; for part 6, round to two decimals. oblem 13-5B Summary information from the financial statements of two companies competing in the same industry