Below are the comparative balance sheets for 2017 and 2018 as well as the income statement for 2018 for Walstead Company.

2018

2017

Income statement

Sales revenue

$920,000

Cost of goods sold

480,000

Gross profit

440,000

Operating expenses

150,000

Pretax income

290,000

Income tax

69,600

Net income

$220,400

Balance sheet

Cash

$26,000

$6,000

Accounts receivable (net)

40,000

38,000

Merchandise inventory

15,000

20,000

Prepaid-expenses

1000

500

Fixed assets (net)

220,000

200,000

$302,000

$264,500

Accounts payable

$17,000

$18,000

Income taxes payable

1,000

1,000

Bonds payable

90,000

100,000

Common stock

100,000

100,000

Retained earnings

94,000

45,500

$302,000

$264,500

*Assume the following.Interest expense is $8,000. The market price of stock on December 31, 2018 is $28.00.The income tax rate is 24%.The average number of shares outstanding over 2018 is 15,000 shares.

Using this information, calculate each of the following ratios (show as decimals to four places - do not show as percentages):

Profit margin

Return on assets

Return on equity

Earnings per share

Price/earnings ratio

Current ratio

Quick ratio

Acid test ratio

Debt-to-equity ratio

Accounts receivable turnover

A/R days until received

Show computations here: