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Required: 1. Compute the following ratios for 2019: a. Current ratio b. Acid-test ratio c. Accounts receivable collection period d. Number of days of sales in inventory e. Debt to stockholders' equity ratio f. Return on stockholders' equity g. Earnings per share (assume all preferred stock dividends are paid) 2. Compute dividends paid on shares of common stock for 2019. 3. What do these ratios tell you about Epicentre Corporation? 4. (Appendix) Restate the financial statements to facilitate Scott formula analysis. 5. (Appendix) Calculate the Scott formula and analyze the results. P13-2 The following information for 2019 was gathered from the financial statements of Epicentre Corporation. Balance Sheet At December 31, 2019 Income Statement For the Year Ended December 31, 2019 $800 Assets Current Cash Accounts receivable Merchandise inventory Prepaid expenses Net sales (all on credit) $ 60 Cost of goods sold 140 Gross profit 250 Selling and admin. expenses 10 Income from operations 460 Interest expense 330 Income before income taxes $790 Income taxes Net income PPE, at carrying amount Liabilities Current Accounts payable Borrowings Notes payable Non-current Borrowings Stockholders' Equity Preferred stock, 10% (8 shares) Common stock (50 shares) Retained earnings Additional information from the December 31, 2018 balance sheet: Accounts receivable Merchandise Inventory Plant assets, net Retained earnings Preferred stock Common stock $180 200 250 OUTER THIRTEEN/Financ e ment Analysis First Station Required: 1. Compute the following ratios for 2019: a. Current ratio b. Acid-test ratio c. Accounts receivable collection period d. Number of days of sales in inventory e. Debt to stockholders' equity ratio f. Return on stockholders' equity g. Earnings per share (assume all preferred stock dividends are paid) 2. Compute dividends paid on shares of common stock for 2019. 3. What do these ratios tell you about Epicentre Corporation? 4. (Appendix) Restate the financial statements to facilitate Scott formula analysis. 5. (Appendix) Calculate the Scott formula and analyze the results. P13-2 The following information for 2019 was gathered from the financial statements of Epicentre Corporation. Balance Sheet At December 31, 2019 Income Statement For the Year Ended December 31, 2019 $800 Assets Current Cash Accounts receivable Merchandise inventory Prepaid expenses Net sales (all on credit) $ 60 Cost of goods sold 140 Gross profit 250 Selling and admin. expenses 10 Income from operations 460 Interest expense 330 Income before income taxes $790 Income taxes Net income PPE, at carrying amount Liabilities Current Accounts payable Borrowings Notes payable Non-current Borrowings Stockholders' Equity Preferred stock, 10% (8 shares) Common stock (50 shares) Retained earnings Additional information from the December 31, 2018 balance sheet: Accounts receivable Merchandise Inventory Plant assets, net Retained earnings Preferred stock Common stock $180 200 250 OUTER THIRTEEN/Financ e ment Analysis First Station