Problem 3 Ohio Corporation
Balance Sheet
As of December 31, 2016 and 2015
Assets:	2016	2015
Cash and cash equivalents	$ 612,300	$ 325,000
Marketable securities	100,000	100,000
Accounts Receivable	408,000	106,250
Inventory	510,000	612,000
Current Assets	1,630,300	1,143,250
Equipment	714,000	654,500
Less: Accumulated depreciation	238,000	119,000
Land-unused	225,000	70,000
Goodwill	200,000	100,000
Total assets	$2,531,300	$1,848,750
Liabilities
Accounts Payable	$ 197,500	$ 382,500
Accrued Salaries Payable	93,500	136,000
Rent Expense Payable	37,400	17,000
Income Tax Payable	117,300	68,000
Current Liabilities	445,700	603,500
Long-term note payable	950,000	510,000
Total Liabilities	1,395,700	1,113,500
Stockholders Equity:
Common stock ($6 par value)	714,000	510,000
Retained earnings	421,600	225,250
Total Stockholders Equity	1,135,600	635,250
Total liabilities and stockholders equity	$2,531,300	$1,848,750

Ohio Corporation
Income Statement
For the year ended December 31, 2016
Sales	$2,100,000
Cost of goods sold	1,350,000
Gross Profit		750,000
Operating Expenses
Depreciation expense	112,000
Salary expense	133,600
Insurance Expense	40,000
Rent Expense	180,000
Interest Expense	22,200
Total Operating Expenses		487,800
Profit Before Tax		262,200
Income Tax Expense		50,370
Net income		$ 211,830

From the above information for Ohio Corporation compute the following analytic measures:

Current Ratio Quick Ratio Debt Ratio Return on Investment Margin Turnover Return on Equity Earnings per share Price/Earnings Ratio

Additional information:

The common stock market price at 12/31/16 was $30 per share