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: b) c) d) e) acid-test ratio inventory turnover days' sales in receivables book value per common share price/earings ratio rate of return on total assets times-interest-earned ratio current ratio 9) h)