All sales were on account.

Compute the following ratios for 2017. (Weighted-average common shares in 2017 were59,300.)

Net sales Cost of goods sold 972,000 Gross profit 811,000 781,700 Selling and administrative expenses 511,800 476,400 Income from operations 299,200 305,300 Other expenses and losses Interest expense Income before income taxes 281,800 291,400 $60,700 $63,400 117,800 101,200 122,000 114,400 368,500 329,900 595,000 521,600 203,400 186,100 204,300 204,300 407,700 390,400 278,000 300,700 277,800 160,400 555,800 461,100 Income tax expense Net income Current assets Cash 17,400 81,800 $ 200,000 PAINTER TOOL COMPANY 31 Short-term investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' Eau iW equity 68,000 $963,500 $160,100 43,300 $963,500 13,900 77,900 $ 213,500 so,goo $851,500 $144,700 41,400 $851,500