he comparative statements of Painter Tool Company are presented below. PAINTER TOOL COMPANY Income Statement For the Years Ended December 31 2017 2016 Net sales $1,810,600 $1,752,800 Cost of goods sold 1,010,100 994,000 Gross profit 800,500 758,800 Selling and administrative expenses 520,200 475,800 Income from operations 280,300 283,000 Other expenses and losses Interest expense 17,400 13,400 Income before income taxes 262,900 269,600 Income tax expense 80,500 77,100 Net income $ 182,400 $ 192,500 PAINTER TOOL COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash $59,800 $63,800 Short-term investments 68,900 50,000 Accounts receivable (net) 117,600 101,300 Inventory 122,500 115,400 Total current assets 368,800 330,500 Plant assets (net) 598,300 521,100 Total assets $967,100 $851,600 Liabilities and Stockholders Equity Current liabilities Accounts payable $159,000 $146,000 Income taxes payable 43,100 41,000 Total current liabilities 202,100 187,000 Bonds payable 195,600 195,600 Total liabilities 397,700 382,600 Stockholders equity Common stock ($5 par) 275,000 298,300 Retained earnings 294,400 170,700 Total stockholders equity 569,400 469,000 Total liabilities and stockholders equity $967,100 $851,600 All sales were on account. Compute the following ratios for 2017. (Weighted-average common shares in 2017 were 54,200.) (Round Earnings per share, Current ratio and Acid-test ratio to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Earnings per share $ (b) Return on common stockholders equity % (c) Return on assets % (d) Current ratio :1 (e) Acid-test ratio :1 (f) Accounts receivable turnover times (g) Inventory turnover times (h) Times interest earned times (i) Asset turnover times (j) Debt to assets ratio %