Problem 12 (30 Points) The financial statements of Raiders Company appear below EL CAMINO COMPANY Comparative Balance Sheet December 31 Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets 2017 $ 25.000 20,000 50,000 140.000 170.000 5405.000 2010 $ 40,000 80,000 30.000 170,000 200,000 3500.000 I Linbilities and stockholders' equity Accounts payable $25.000 $ 30,000 Short-term notes payable 40,000 00.000 Bonds payable 75,000 100,000 Common stock 180.000 145,000 Retained earnings 105,000 75 000 Total liabilities and stockholders' equity 54053000 S500.000 EL CAMINO COMPANY Income Statement For the Year Ended December 31, 2017 Net sales (all on credit) 3360.000 Cost of goods sold 184000 Gross profit 170,000 Expenses Interest expense $11.000 Selling expenses 30,000 Administrative expenses 200g Total expenses B1000 Income before income tas 115.000 Income tax expense 35.000 Sinong Net income Additional information , Cash dividends of $50.000 were declared and paid on common stock in 2017 b. Weighted average number of shares of common stock outstanding during 2017 was 50.000 Shares Market price of common stock on December 31, 2017, was $10 per share d Niet cash provided by operating activities for 2017 was $70,000 Instructions Using the financial statements and additional information, compute the following ratios for the Elcamicia Company for 2017 You Must show all computations 1. Current ratio 2 Return on common stockholdersi equity 3. Price-earings ratio 4. Inventory turnover 5. Accounts receivable turnover Times interest earned 7 Profit margin 8 Days in inventory Payout ratio 10 Return on assets