Financial ratios computed for Whittaker Inc. include the following: Current ratio Acid-test ratio Debt/equity ratio 1.7 to 1 1.4 to 1 2.5 to 1 2.5 times Inventory turnover Accounts receivable turnover Times interest earned Gross profit ratio Return on investment Earnings per share 5.9 times 4.85 times 40% 12.57% $11.95 All sales during the year were made on account. Cash collections during the year exceeded sales by $18,000, and no uncollectible accounts were written off. The balance of the accounts receivable account was $46,000 on January 1, 2020. No common stock was issued during the year. Dividends declared and paid during the year were $5,324 .The balance of the inventory account was $71,784 on January 1, 2020. Interest expense on the income statement relates to the 15% bonds payable; $10,000 of these bonds were issued on May 1, 2020; the remaining amount of bonds payable were outstanding throughout the year. All bonds were issued at face amount.