Lundberg Corporation's most recent balance sheet and income statement appear below:

Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars)
	Year 2		Year 1
Asset:
Current assets:
Cash	$	210	$	220
Accounts receivable		320		330
Inventory		220		210
Prepaid expenses		20		20
Total current assets		770		780
Plant and equipment, net		1,027		1,007
Total assets	$	1,797	$	1,787
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	270	$	260
Accrued liabilities		160		160
Notes payable, short term		210		220
Total current liabilities		640		640
Bonds payable		300		350
Total liabilities		940		990
Stockholders' equity:
Preferred stock, $100 par value, 10%		230		230
Common stock, $1 par value		100		100
Additional paid-in capital--common stock		110		110
Retained earnings		417		320
Total stockholders' equity		857		760
Total liabilities and stockholders' equity	$	1,797	$	1,750

Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars)

Sales (all on account)

$

1,460

Cost of goods sold

863

Gross margin

597

Selling and administrative expenses

267

Net operating income

330

Interest expense

44

Net income before taxes

286

Income taxes (30%)

86

Net income

$

200

Dividends on common stock during Year 2 totaled $80 thousand. The market price of common stock at the end of Year 2 was $9.49 per share.

Required:
a.	Compute the gross margin percentage for Year 2. (Round your answer to 1 decimal place. Omit the "%" sign in your response.)

Gross margin percentage

%

b.	Compute the earnings per share (of common stock) for Year 2.(Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Earnings per share

$

c.	Compute the price-earnings ratio for Year 2. (Do not round intermediate calculations. Round your answer to 1 decimal place.)

Price-earnings ratio

d.	Compute the dividend payout ratio for Year 2. (Do not round intermediate calculations. Round your answer to 1 decimal place. Omit the "%" sign in your response.)

Dividend payout ratio

%

e.	Compute the dividend yield ratio for Year 2. (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Dividend yield ratio

%

f.	Compute the return on total assets for Year 2. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Return on total assets

%

g.	Compute the return on common stockholders' equity for Year 2. (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Return on common stockholders' equity

%

h.	Compute the book value per share for Year 2. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Book value per share

$

i.	Compute the working capital for Year 2. (Input your answer in thousands of dollars. Omit the "$" sign in your response.)

Working capital

$

j.	Compute the current ratio for Year 2. (Round your answer to 2 decimal places.)

Current ratio

k.	Compute the acid-test ratio for Year 2.(Round your answer to 1 decimal place.)

Acid-test ratio

l.	Compute the accounts receivable turnover for Year 2. (Round your answer to 2 decimal places.)

Accounts receivable turnover

m.	Compute the average collection period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to one decimal place.)

Average collection period

days

n.	Compute the inventory turnover for Year 2. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Inventory turnover

$

o.	Compute the average sale period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)

Average sale period

days

p.	Compute the times interest earned for Year 2. (Round your answer to 2 decimal places.)

Times interest earned

q.	Compute the debt-to-equity ratio for Year 2. (Round your answer to 2 decimal places.)

Debt-to-equity ratio