PROFITABILITY RATIOS The following information was obtained from the financial statements of Beefeaters, Inc. Accounts receivable (net) Cash dividends on common stock Common stockholders' equity Cost of goods sold Merchandise inventory 1993 $ 37,000 3,000 115,000 516,200 58,000 55,960 890,000 1992 $ 43,000 3,000 5,000 215,000 107,000 464,550 62,000 52,125 815,000 Net income Net sales (all on credit) Preferred dividends Total assets Beefeaters had 10,000 shares of common stock outstanding throughout 1992 and 1993. The market price of the company's common stock was $73.60 at the end of 1993. Instructions Compute each of the following ratios for 1993: 5,000 207,000 [a] receivables turnover [b] inventory turnover [c] asset turnover [d] profit margin on sales [e] rate of return on assets [f] return on common stockholders' equity [g] earnings per share [h] price/earnings ratio [i] book value per share [i] dividend payout ratio