Question 4: (5 marks) The financial information of Grogan Company appear below: Accounts payable Short-term notes payable Bonds payable Common stock. Short-term investments Cash. $20,000 30,000 90,000 150,000 30,000 90,000 160,000 150,000 60,000 40,000 70,000 70,000 15,000 25,000 50,000 Inventory Retained earnings Net sales Operating expenses 110,000 400,000 52,000 260,000 Property, plant and equipment (net) Interest expense Income tax expense Cost of goods sold Accounts receivable (net). 300,000 18,000 27,000 240,000 50,000 30,000 Additional information: a. b. Cash dividends of $23,000 were declared and paid in 2011 Weighted-average number of shares of common stock outstanding during 2011 was 30,000 shares. Market value of common stock on December 31,2011, was $21 per share. c. Instructions: Using the financial information and additional information, compute the following ratios for Grogan Company for 2011. Show all computations. I. Current ratio 2. Return on common stockholders' equity 3. Price-carnings ratico 4. Payout ratio 5. Return on sales Page 7 of 7