Problem 13-48 Calculation of inancial statement ratios P Selected year end financial statements of Overton Corporation follow (All sales were on credi, selected balance sheet amounts at December 31, 2014, were Inventory $17,400, total assets, 524,900, common stock, $35,500, and retained eamings, $18,800) OVERTON CORPORATION Income Statement For Year Ended December 31,2015 $315,500 Gross profit . Interest exppense.. Income oes 100 Operating expenses .49200 .2,200 28,000 4,200 Net income w..$ 23,800 OVERTON CORPORATION Balance Sheet December 31,201S Liabilitios and Equity Assets Cash .. 6,100 Accounts payablo ....11500 6900 Accrued wages payable 12,100 Income taxas payable 3,000 Long term note payable, secured 3,300 2,600 Accounts receivable, net. Notes receivable (trade) Merchandise inventory.13,500by mortgage on plant assets....30,000 2000 Common stock, $5 par value 73,900 Retained earnings $117500 Total fiablities and equlty 35,000 35,100 117500 Prepaid expenses Plant assets, net. Total assets. These are short-lerm notes reaeivable arising from customer (trade) sales Required Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit ma ratio, (9) total asset turnover, (10) retum on total assets, and (11) return on common stockholders'e Round to one decimal place for part 6, round to two decimals