Problens 14-6A The comparative statements of Corbin Company are presented below Net sales (all on account) Cost of goods sold Selling and administrative Interest expense 415,500 119,300 8,700 113,000 14,600 486,700 Net income s 38,200 21,700 18300 18,500 Short-termm investments Accounts receivable (net) 9.100 Total curent assets 215,900 Plant assets (net) CMPAN Current assets 21700 18,500 8,30018,300 6,60014,500 89,100 Short-term investments Accourts receivable (net) 73.500 invertory 69,400 Total ourrent assets Plant assets (net) Total assets Llabisitles and Stockholders' Equity Current iabilities 22,600 383.200 638,500558900 Accounts payable income taxes payable 121,000109,000 20,500 23,600 144,600 Long-term Eabilities Bonds payable 120,700 Total liabilities 65.300210,400 Stockholders' equity 151,200 373,200 Total abilibies and stockholders" equity $638,500 Common stock ($5 par) Retained earrings 151,200 197.300 Total stockholders' equity 558.900 Additional data: 222.000 197.300 48 500 Retained earnings Total stockholders equity Total iabilities and stockholders' equity $38,500 Addtional data: The common stock recently sold at $18.50 per share. Computethe following rates for 2017. (Round Acid-test ratio and Earnings per share to 2 decimal places, eq. 1.65, and all other answers to 1 decimal place, eg. 6.8 or 6.8%.) (a) Current ratio. (b) Acd-test ratio (c) Accounts receivable turnover (d) Inventory turnover (e) Profit margin. () Asset turnover (a) Return on assets, Ch) Returm on common stockhoilders equity. Ci) Earmings per share. ) Price-earnings ratio. (k) Payout ratio. (I) Debt to assets ratio. (m) Times interest earned 73 200