Question 2 The comparative statements of Shamrock Company Limited are presented below. 2016 421,000 SHAMROCK COMPANY LIMITED Income Statement For the Years Ended December 31 2017 Net sales (all on account) 499,000 Expenses Cost of goods sold 316,000 Selling and administrative 120,000 Interest expense 8,900 Income tax expense 20,700 Total expenses 465,600 Net income 33,400E 254,000 115,000 5,300 14,000 388,300 32,700 2016 382,000 SHAMROCK COMPANY LIMITED Statements of Financial Position December 31 2017 Plant assets (net) 423,000 Current assets Inventory 79,200 Accounts receivable (net) 85,900 Short-term investments 17,000 Cash 21,300 Total current assets 203,400 Total assets 626,400 60,200 75,000 14,500 18,000 167,700 549,700 2020,400 2549,700 153,000 218,700 371,700 153,000 195,500 348,500 Total assets Equity and Liabilities Equity Share capital-ordinary (5 par) Retained earnings Total equity Non-current liabilities Bonds payable Current liabilities Accounts payable Income taxes payable Total current liabilities Total liabilities Total equity and liabilities 121,000 80,100 121,000 12,700 133,700 254,700 626,400 111,000 10,100 121,100 201,200 549,700 Additional data: The ordinary shares recently sold at 19.50 per share. Compute the following ratios for 2017. (Round acid-test ratio and earnings per share to 2 decimal places, .g. 1.65, and 6.3 .) (a) Current ratio (b) Add-test ratio (c) Accounts receivable turnover (d) Inventory turnover (c) Profit margin (0) Asset turnover (9) Return on assets (h) Return on ofdinary shareholders' equity 00) Earnings per share C) Price earnings ratio (k) Payout ratio (1) Debt to total assets (m) Times interest earned