Exercise 14.12 (Algo) Computing Ratios (LO14-7) A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total $ 100,000 100,000 Liabilities & Stockholders' Equity Notes payable (due in 6 months) $ 48,000 Accounts payable 93,000 260,000 60,000 570,000 Long-term liabilities Capital stock, $5 par 320,000 300,000 Retained earnings 419,000 90,000 $1,180,000 Total $1,180,000 During the year the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory. and plant assets remained almost constant in amount throughout the year, so year-end figures may be used rather than averages. a. Compute the current ratio. (Round your answer to 2 decimal place.) b. Compute the quick ratio. (Round your answer to 2 decimal place.) c. Compute the working capital. d. Compute the debt ratio. (Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%.) e. Compute the accounts receivable turnover (all sales were on credit). (Round your answer to 2 decimal places.) f. Compute the inventory turnover. (Round your answer to 2 decimal places.) g. Compute the book value per share of capital stock. (Round your answer to 2 decimal places.)