Exercise 14-10A (Algo) Number of times interest earned LO 14-3 The following data come from the financial records of Baird Corporation for Year 3: Sales Interest expense Income tax expense Net income Required $ 845,000 5,500 27,500 24,500 How many times was interest earned in Year 3? Note: Round your answer to 2 decimal places. Interest earned times Exercise 14-11A (Algo) Accounts receivable turnover, inventory turnover, and net margin LO 14-2, 14-4 Selected data from Campbell Company follow: Accounts receivable Net accounts receivable Balance Sheets As of December 31 Year 3 $ 402,000 (20,100) Year 21 $ 372,000 (14,880) $ 357,120 Allowance for doubtful accounts. $ 381,900 Inventories, lower of cost or market $ 483,000 $ 438,000 Income Statement For the Years Ended December 31 Year 3 Year 2 Net credit sales $ 2,010,000 $1,754,000 Net cash sales 418,000 Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses 2,428,000 306,000 2,060,000 1,610,000 1,430,000 239,500 215,700 41,000 Total operating expenses Required $1,890,500 22,500 $1,668,200 a. Compute the accounts receivable turnover for Year 3. b. Compute the inventory turnover for Year 3. c. Compute the net margin for Year 2. Note: For all requirements, round your answers to 2 decimal places. a. Accounts receivable turnover b. Inventory turnover c. Not margin times times % Exercise 14-13A (Algo) Ratio analysis LO 14-2, 14-3, 14-4, 14-5 Following is the balance sheet of Baird Company for Year 3: Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets BAIRD COMPANY Balance sheet Liabilities and Stockholders' Equity Accounts payable Current notes payable $ 15,400 7,900 13,040 10,950 166,500 (13,000) $ 200,790 $ 8,420 3,840 4,100 Mortgage payable Bonds payable Common stock Retained earnings 21,960 113,800 48,670 Total liabilities and stockholders' equity $ 200,790 The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $14,700. Required Compute each of the following: Note: Round your answers to 2 decimal places. a. Current ratio b. Earnings per share. c. Quick (acid-test) ratio d. Return on investment e. Return on equity 1. Debt to equity ratio per share % % %