89) Following are selected data from the comparative income statement and balance sheet for Owens Corporation for the years ended December 31, 2014, and 2013:

Selected Data 2014 2013

Net sales (all on credit) $96,000 $93,000

Cost of goods sold 51,300 52,500

Gross margin 44,700 40,500

Income from operations 16,300 15,000

Interest expense 3,000 3,500

Net income 9,800 9,000

Cash 2,700 3,500

Accounts receivable, net 10,700 12,500

Inventory 25,000 30,000

Prepaid expenses 1,000 900

Total current assets 39,400 46,900

Total long-term assets 50,000 67,000

Total current liabilities 39,000 49,500

Total long-term liabilities 15,000 25,000

Common shares 10,000 * 10,000

Retained earnings 25,400 29,400

* Note: 1,000 common shares have been issued and outstanding since the company started operations. During all of the fiscal year ended December 31, 2014, the shares were selling for $45 per share.

Calculate the following ratios at December 31, 2014:

a) acid-test ratio

b) inventory turnover

c) days' sales in receivables

d) book value per common share

e) price/earnings ratio

f) rate of return on total assets

g) times-interest-earned ratio

h) current ratio