Chapter 12 - Analysis and Inte rpretation of Financial State me nts Compute numerous standard ratios Robert Cornell, Inc. is in the accounting software company and is the top supplier of accounting software resources. The following consolidated balance sheet and supplementary data are for Robert Cornell, Inc. for 2015 Robert Cornell, Inc. Consolidated Balance Sheet December 31,2016 Assets Current Assets Cash and cash equivalents Accounts receivable, net ofallowance for doubtful accounts of $3,9012 Other current assets S 167,878 230,220 194,166 S 592,264 62,569 613,394 361,455 S 1,629,682 Total Current Assets Property and equipment, net Goodwill Other assets Total Assets Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued expenses Accrued compensationn Deferred revenue Income taxes 77,141 95,980 279,935 16,335 S 469,391 337,601 Total Current Liabilities Long-term liabilities Stockholders' Equity Preferred stock, $0.01 par value; 5,000 shares authorized; none issued Common stock, $0.01 par value; 500,000 shares authorized; 116,937 (2015) and 115,826 (2014) shares issued Additional paid-in capital Accumulated deficit Accumulated other comprehensive loss 1,169 1,805,021 (918,736) 64,764 S 1,629,682 Total Liabilities and Stockholders' Equity ***See next page for additional supplementary data*** Supplementary Data for 2015 (in millions) 1. Net income, $85,424 2. Income before interest and taxes, $117,114 3. Cost of goods sold, $356,768 4. Net sales, $1,166,949 5. Total interest expense for the year, $3,310 6. Weighted-average number of shares outstanding, 117,579 7. Cash flow from operating activities, $122,000 Required: Calculate the following ratios and show your computations. For cakculations normally involving averages, such as average accounts receivable or average stockholders' equity, use year-end amounts if the information is not available to use averages. Round all answers to two decimal places. A formula sheet has been provided on page 7 a. Working capital: b. Current ratio c. Net income to average common stockholders' equity: d. Accounts receivable turnover: e. Number of days' sales in accounts receivable (assume 365 days in 2015): f Equity ratio g. Net income to net sales: h. Total asset turnover: i. Times interest earned ratio j. EPS of common stock: k. Acid-test ratio L Cash flow liquidity ratio