Comparative financial statement data of Tanfield, Inc., follow:

Tanfield, Inc.
Comparative Income Statement
Years Ended December 31, 2011 and 2010
			2011	2010
		Net sales	$465,000	$426,000
		Cost of goods sold	237,000	214,000
		Gross profit	228,000	212,000
		Operating expenses	135,000	133,000
		Income from operations	93,000	79,000
		Interest expense	9,000	12,000
		Income before income tax	84,000	67,000
		Income tax expense	21,000	23,000
		Net income	$63,000	$44,000

Tanfield, Inc.
Comparative Balance Sheet
December 31, 2011 and 2010
			2011	2010	2009*
		Current assets:
		Cash	$94,000	$91,000
		Current receivables, net	107,000	117,000	$102,000
		Inventories	144,000	161,000	201,000
		Prepaid expenses	15,000	8,000
		Total current assets	360,000	377,000
		Property, plant, and equipment, net	216,000	173,000
		Total assets	$576,000	$550,000	599,000
		Total current liabilities	$226,000	$243,000
		Long-term liabilities	117,000	95,000
		Total liabilities	343,000	338,000
		Preferred stock, 3%	92,000	92,000
		Common stockholders' equity, no par	141,000	120,000	85,000
		Total liabilities and stockholders' equity	$576,000	$550,000
* Selected 2009 amounts

1.	Market price of Tanfield's common stock: $108.36 at December 31, 2011, and $61.92 at December 31, 2010.
2.	Common shares outstanding: 10,000 during 2011 and 8,000 during 2010.
3.	All sales on credit.

Requirements

1. Compute the following ratios for 2011 and 2010:
	a.	Current ratio
	b.	Times-interest-earned ratio
	c.	Inventory turnover
	d.	Return on common stockholders' equity
	e.	Earnings per share of common stock
	f.	Price/earnings ratio
2.	Decide (a) whether Tanfield's ability to pay debts and to sell inventory improved or deteriorated during 2011 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased.