answer 6-10 question

Exam 2 Practice, Ch 13-14-15-17 Page I 1. The financial statements of El Camino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31, Assets Cash Debt investments Accounts receivable (net) 016 S 25,000 40,000 60,000 30,000 140,000 170,000 170,000 200,000 $405.000 $500,000 20,000 Property, plant and equipment (net) uel Total assets s 25,000 30,000 Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings 40,000 75,000 160,000 05 160,000 145,000 Total liabilities and stockholders' equity 405.000 $500,000 ELCAMINO COMPANY Income Statement For the Year Ended December 31, 2017 Net sales (all on credit) Cost of goods sold Gross profit Expenses S360,000 Interest expense Selling expenses Administrative expenses $11,000 Total expenses Income before income taxes Income tax expense Net income 115,000 mation: a. Cash dividends of $50,000 were declared and paid on common stock in 2017. b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares. Market price of common stock on December 31, 2017, was S16 per share. Net cash provided by operating activities for 2017 was $70,000. c. d. Instructions Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations. . Computations 2h00 I. Current ratio 6 2. Return on common st 3. Price-earnings ratio 4. Inventory turnover 5. Accounts receivable turnover lders' equity tic