DILLON COMPANY Income Statement For year Ended December 31 Net sales (all on account) 2009$600,002008$520,000 Expenses: Cost of goods sold Selling and administrative Interest expenses Income tax expenses Total Expenses \begin{tabular}{ll} 415,000 & 354,000 \\ 120,800 & 114,800 \\ 7,800 & 6,000 \\ 18,000 & 14,000 \\ 561,600 & 488,800 \\ $38,400 & $31,200 \\ \hline \end{tabular} Net income DILLON COMPANY Balance Sheets December 31 Current assets CashShort-terminvestmentsAccountreceivable(net)InventoryTotalcurrentassetsPlantassets(net)Tratalassets$21,00018,00086,00090,000423,000$638,000$18,00015,00074,000215,000$560,000383,000$5 Total assets Liabilities and Stockholders Equity Current liabilities Accounts payable Total current liabilities Long-term liabilities Bonds payable 265,000120,000210,00080,000 Total liabilities Stockholders equity Additional data: The common stock recent sold at \$19.50 per share The year end balance in the allowance for doubtful accounts was $3,000 for 2009 and $2,400 for 2008 Instruction Compute the following ratios for 2009 (a) Current (b) Acid-test (c) Receivables turnover (d) Inventory turnover (e) Profit margin. (f) Asset turnover (g) Return on assets (h) Return on common stockholders equity (i) Earnings per share. (j) Price earnings (k) payout (I) Debt to total assets (m) Times interest earned