Problem 2 On 12/31/21 Telex Companys common stock is selling on the New York Stock Exchange for $8.00 per share. The following are Telexs 2021 Income Statement and Balance Sheet; Income Statement For the year ended 12/31/21 Sales 180,000 Cost of goods sold (100,000) Operating expenses (55,000) Net Income 25,000

Balance Sheet 12/31/21

Assets Liabilities Cash 20,000 Accounts payable 48,000 Accounts receivable 40,000 Salaries payable 17,000 Inventory 30,000 Long term note payable 135,000 Trucks 410,000 Total Liabilities 200,000

Total Assets 500,000

Stockholders Equity Common stock (#50,000 shares) 250,000 Retained earnings 50,000 Total Stockholders Equity 300,000 Total Liabilities & S/E 500,00

Calculate: (1) Working Capital (2) Current Ratio (3) Quick Ratio (4) EPS (5) Price Earnings Ratio