2.

value: 10.00 points

Use the following financial statements for Lake of Egypt Marina, Inc.

LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars)
	2015			2014				2015			2014
Assets							Liabilities and Equity
Current assets:							Current liabilities:
Cash and marketable securities	$	60		$	28		Accrued wages and taxes	$	40		$	32
Accounts receivable		50			36		Accounts payable		50			40
Inventory		140			132		Notes payable		50			32
Total	$	250		$	196		Total	$	140		$	104
Fixed assets:							Long term debt:		11			124
Gross plant and equipment	$	300		$	220		Stockholders equity:
Less: Depreciation		75			40		Preferred stock (8 million shares)	$	8		$	8
							Common stock and paid-in surplus (60 million shares)		60			60
Net plant and equipment	$	225		$	180		Retained earnings		281			104
Other long-term assets		25			24
Total	$	250		$	204		Total	$	349		$	172
Total assets	$	500		$	400		Total liabilities and equity	$	500		$	400

LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2015 and 2014 (in millions of dollars)
	2015			2014
Net sales (all credit)	$	700		$	500
Less: Cost of goods sold		210			140
Gross profits	$	490		$	360
Less: Other operating expenses		49			30
Earnings before interest, taxes, depreciation, and amortization (EBITDA)		441			330
Less: Depreciation		35			25
Earnings before interest and taxes (EBIT)	$	406		$	305
Less: Interest		56			35
Earnings before taxes (EBT)	$	350		$	270
Less: Taxes		105			81
Net income	$	245		$	189
Less: Preferred stock dividends	$	8		$	8
Net income available to common stockholders	$	237		$	181
Less: Common stock dividends		60			60
Addition to retained earnings	$	177		$	121
Per (common) share data:
Earnings per share (EPS)	$	3.950		$	3.017
Dividends per share (DPS)	$	1.000		$	1.000
Book value per share (BVPS)	$	5.683		$	2.733
Market value (price) per share (MVPS)	$	15.050		$	12.850

Calculate the following ratios for Lake of Egypt Marina, Inc. as of year-end 2015. (Use sales when computing the inventory turnover and use common stockholders' equity when computing the equity multiplier. Round your answers to 2 decimal places. Use 365 days a year.)

LAKE OF EGYPT MARINA, INC.
a.	Current ratio		times
b.	Quick ratio		times
c.	Cash ratio		times
d.	Inventory turnover		times
e.	Days sales in inventory		days
f.	Average collection period		days
g.	Average payment period		days
h.	Fixed asset turnover		times
i.	Sales to working capital		times
j.	Total asset turnover		times
k.	Capital intensity		times
l.	Debt ratio		%
m.	Debt-to-equity		times
n.	Equity multiplier		times
o.	Times interest earned		times
p.	Cash coverage		times
q.	Profit margin		%
r.	Gross profit margin		%
s.	Operating profit margin		%
t.	Basic earnings power		%
u.	ROA		%
v.	ROE		%
w.	Dividend payout		%
x.	Market-to-book ratio		times
y.	PE ratio		times