Calculate the following ratios relative to the year ended December 31, 19X6:

a-Current ratio

b-acid-test ratio

c-inventory turnover

d-accounts receivable turnover

e-debt ratio

f-book value per share of common stock

g-what do each of these ratios reveal?

vil. The following is a comparative balance sheet for Lomak Corporation: Lomak Corporation Comparative Balance Sheet December 31, 19X6 and 19X5 19X5 19X6 Assets Current assets 8,000 12,000 Cash 9,000 7,000 Short-term investments 20,000 33,000 Accounts receivable, net 42,500 47,000 Merchandise inventory Prepaid expenses 82,500 101,000 Total current assets 73,400 Property, plant & equipment, net Intangible assets $203.400 160,000 Total assets Liabilities Current liabilities 60,000 65,900 Short-term note payable 0,000 88,400 Accounts payable Total current liabilities Z.500 20.000. Long-term debt 108,400 1 17,500 Total liabilities Stockholders' equity 40,000 40,000 Common stock, no par Retained earnings 85.900 51.600 Total stockholders' equity $203,400 160,000 Total liabilities & stockholders' equity Note: Net sales (all on credit) for the year ended December 31, 19x6, were $200,000, and the cost of goods sold was $120,000. The number of shares of common stock outstanding has been 4,000 since the company began operations