ltoid Co.Balance Sheet At December 31, 2018

Cash 150

Short-term investments 200

Accounts receivable (net) 300

Inventories 450

Property, plant, and equipment (net) Total assets 1100

Total assets 2200

Liabilities and shareholders equity:

Current liabilities 450

Long-term liabilities 600

Paid-in capital 150

Retained earnings 1000

Total liabilities and shareholders equity 2200

Net sales 7700

Operating expenses 7110

Income before interest and taxes 590

Interest expense 90

Income tax expense 150

Net income 350

Compute the following financial statement ratios for 2018:

6) Altoid Co.'s current ratio. Round your answer to two decimal places.

7) Altoid Co.'s acid-test ratio. Round your answer to two decimal places.

8) Altoid Co.'s debt to equity ratio. Round your answer to two decimal places.

9) Altoid Co.'s times interest earned ratio. Round your answer to two decimal places.

10) Altoid Co.'s long term debt to equity ratio. Round your answer to two decimal places.) Use this information to answer the following questions:

Spartan Sportswear's current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:

Inventories $180,000

Total assets $720,000

Current ratio 2.75

Acid-test ratio 1.5

Debt to equity ratio 1.4

Required: Compute the following for Spartan:

11) Current assets

12) Shareholders' equity

13long-term assets

14long-term liabilities