Condensed data taken from the balance sheet at the end of the current year are as follows:

Assets

Cash ............................................................................................................................................................................ $ 300,000

Marketable securities ............................................................................................................................................... 125,000

Accounts receivable ................................................................................................................................................. 275,000

Merchandise inventory ............................................................................................................................................. 1,200,000

Prepaid expenses ..................................................................................................................................................... 76,000

Fixed assets (net) ...................................................................................................................................................... 2,000,000

Liabilities and Stockholders Equity

Accounts payable ...................................................................................................................................................... $ 400,000

Notes payable (short-term, non-interest-bearing) .............................................................................................. 250,000

Accrued liabilities ...................................................................................................................................................... 100,000

Bonds payable, 10%, due 2023 ............................................................................................................................. 2,000,000

Preferred 9% stock, $50 par ................................................................................................................................... 500,000

Common stock, $20 par .......................................................................................................................................... 300,000

Paid-in capital in excess of parcommon stock ................................................................................................ 100,000

Retained earnings ..................................................................................................................................................... 326,000

Selected data related to the 12 months of the current year indicate the following:

Average accounts receivable ................................................................................................................................. $ 300,000

Average common stockholders equity ............................................................................................................... 700,000

Average stockholders equity .................................................................................................................................. 1,200,000

Average total assets ................................................................................................................................................. 3,400,000

Cash dividends paid on common stock ............................................................................................................... 1111,000

Income before income tax ...................................................................................................................................... 300,000

Interest expense ........................................................................................................................................................ 50,000

Net income ................................................................................................................................................................. 250,000

Net sales (on account) ............................................................................................................................................. 2,000,000

..... The common stock was selling for $75 per share at the end of the current year.

INSTRUCTIONS: Compute the analytical measures listed below, rounding to one decimal point, and insert answers in the Answers column.

		For
	Answers	Scoring
0. Ratio of fixed assets to long-term liabilities ...............................................	2.8	0. ____
1. Quick ratio ...................................................................................................		1. ____
2. Current ratio .....................................................................................................		2. ____
3. Working capital ...............................................................................................	$
4. Accounts receivable turnover .......................................................................		4. ____
5. Rate earned on total assets ...........................................................................		5. ____
6. Rate earned on common stockholders equity ..........................................		6. ____
7. Number of times interest charges earned .................................................		7. ____
8. Earnings per share on common stock ........................................................	$	8. ____
9. Price-earnings ratio on common stock........................................................		9. ____
10. Dividend yield on common stock .................................................................		10. ____