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The common stock recently sold at $20.43 per share. Compute the following ratios for 2017. (Round Acid-test ratio and Earnings per share to 2 decimal places, e.g. 1. e.g. 6.8 or 6.8%.) :1 (a) Current ratio. (b) Acid-test ratio. (c) Accounts receivable turnover. :1 times (d) Inventory turnover. times (e) Profit margin. % (1) Asset turnover. times times % (9) Return on assets. (h) Return on common stockholders' equity. % (1) Earnings per share. 6) Price-earnings ratio. (k) Payout ratio. times % (0) Debt to assets ratio. % (m) Times interest earned. times Question 6 The comparative statements of Corbin Company are presented below. 2016 $519,000 CORBIN COMPANY Income Statement For the Years Ended December 31 2017 Net sales (all on account) $599,600 Expenses Cost of goods sold 414,300 Selling and administrative 119,300 Interest expense 8,900 Income tax expense 18,700 Total expenses 561,200 Net income $ 38,400 353,000 114,500 5,700 14,600 487,800 $ 31,200 CORBIN COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash Short-term investments Accounts receivable (net) $ 21,300 18,000 86,900 89,500 $ 18,100 15,500 73,700 69,500 Inventory $ 21,300 18,000 86,900 89,500 215,700 422,300 $638,000 $ 18,100 15,500 73,700 69,500 176,800 383,800 $560,600 Current assets Cash Short-term investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Long-term liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $122,800 22,600 145,400 $110,800 19,700 130,500 119,900 265,300 79,600 210,100 148,000 224,700 372,700 $638,000 148,000 202,500 350,500 $560,600