Problem 13-2A The comparative statements of Osborne Company are presented here. OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales $1,898,555 $1,758,515 Cost of goods sold 1,066,555 1,014,015 Gross profit 832,000 744,500 Selling and administrative expenses 508,015 487,015 Income from operations 323,985 257,485 Other expenses and losses Interest expense 23,160 21,160 Income before income taxes 300,825 236,325 Income tax expense 93,160 74,160 Net income $ 207,665 $ 162,165 OSBORNE COMPANY Balance Sheets December 31 Assets 2014 2013 Current assets Cash $ 60,100 $ 64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 125,815 110,815 Inventory 127,160 116,660 Total current assets 387,075 341,675 Plant assets (net) 662,539 533,839 Total assets $1,049,614 $875,514 Liabilities and Stockholders Equity Current liabilities Accounts payable $ 168,015 $153,415 Income taxes payable 44,660 43,160 Total current liabilities 212,675 196,575 Bonds payable 233,539 213,539 Total liabilities 446,214 410,114 Stockholders equity Common stock ($5 par) 290,000 300,000 Retained earnings 313,400 165,400 Total stockholders equity 603,400 465,400 Total liabilities and stockholders equity $1,049,614 $875,514 All sales were on account. Net cash provided by operating activities for 2014 was $241,850. Capital expenditures were $135,160, and cash dividends were $59,665. Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.) (a) Earnings per share $ (b) Return on common stockholders equity % (c) Return on assets % (d) Current ratio :1 (e) Accounts receivable turnover times (f) Average collection period days (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets % (l) Current cash debt coverage times (m) Cash debt coverage times (n) Free cash flow $