1. Problem 3-13

   Axtel Company has the following financial statements.

   Axtel Company
   Balance Sheet
   For the period ended 12/31/X1 ($000)
   				ASSETS
   		12/31/X0			12/31/X1
   Cash		$	3515		$	2940
   Accounts receivable			6804			5281
   Inventory			2573			3220
   CURRENT ASSETS		$	12892		$	11441
   Fixed assets
   Gross		$	22478		$	24360
   Accumulated deprec.			(12210)			(13076)
   Net		$	10268		$	11284
   TOTAL ASSETS		$	23160		$	22725
   				LIABILITIES
   Accounts payable		$	1595		$	1714
   Accruals			236			354
   CURRENT LIABILITIES		$	1831		$	2068
   Long-term debt		$	7112		$	6002
   Equity			14217			14655
   TOTAL CAPITAL		$	21329		$	20657
   TOTAL LIABILITIES AND EQUITY		$	23160		$	22725

   Axtel Company
   Income Statement
   For the period ended 12/31/X1
   ($000)
   Sales		$	36276
   COGS			20104
   Gross margin		$	16172
   Expense		$	10689
   EBIT		$	5483
   Interest			713
   EBT		$	4770
   Tax			1605
   Net income		$	3165

   In addition, Axtel retired stock for $1,000,000 and paid a dividend of $1,727,000. Depreciation for the year was $866,000. Calculate the ratios for the Axtel Company. Assume Axtel had leasing costs of $7,267,000 and amortization of $1,416,000 in 20X1, and had 1268000 shares of stock outstanding that were valued at $28.75 per share at year end. The firm must also make principal repayments of $1,012,000 on its outstanding debt this year. Assume 360 days in a year. Round your answers to two decimal places.

   Current Ratio	fill in the blank 1
   Quick Ratio	fill in the blank 2
   Average Collection Period (ACP)	fill in the blank 3days
   Inventory Turnover (using COGS)	fill in the blank 4x
   Inventory Turnover (using sales)	fill in the blank 5x
   Fixed Asset Turnover	fill in the blank 6x
   Total Asset Turnover	fill in the blank 7x
   Debt Ratio	fill in the blank 8%
   Debt to Equity Ratio	fill in the blank 9
   Times Interest Earned (TIE)	fill in the blank 10x
   Cash Coverage	fill in the blank 11
   Fixed Charge Coverage	fill in the blank 12x
   EBITDA Coverage	fill in the blank 13x
   Return on Sales	fill in the blank 14%
   Return on Assets	fill in the blank 15%
   Return on Equity	fill in the blank 16%
   Price Earnings Ratio (P/E)	fill in the blank 17
   Market to Book Value Ratio	fill in the blank 18