Ratio computation. The financial statements of the Lone Pine Company follow.

LONE PINE COMPANY Comparative Balance Sheets December 31, 20X2 and 20X1 ($000 Omitted)
20X2	20X1
Assets
Current Assets
Cash and Short-Term Investments	$ 1,400	$ 1,400
Accounts Receivable (net)	4,000	3,200
Inventories	__9,400	__7,600
Total Current Assets	$2,700	$1,400
Property, Plant, and Equipment
Land	$2,500	$ 1,400
Buildings and Equipment (net)	__2,500	__1,800
Total Property, Plant, and Equipment	$5,200	$3,200
Total Assets	$14,600	$10,800
Liabilities and Stockholders' Equity
Current Liabilities
Accounts Payable	$2,800	$2,500
Notes Payable	__2,100	__2,700
Total Current Liabilities	$3,900	$4,400
Long-Term Liabilities
Bonds Payable	5,100	2,900
Total Liabilities	$9,000	$7,300
Stockholders' Equity
Common Stock	$ 1,200	$ 1,000
Retained Earnings	__1,200	__1,000
Total Stockholders' Equity	$5,600	$3,500
Total Liabilities and Stockholders' Equity	$14,600	$10,800

	LONE PINE COMPANY Statement of Income and Retained Earnings For the Year Ending December 31,20X2 ($000 Omitted)
	Net Sales*	$39,000
	Less: Cost of Goods Sold	$20,000
	Selling Expense	6,000
	Administrative Expense	4,000
	Interest Expense	400
	Income Tax Expense	__2,000	_32,400
	Net Income	$ 3,600
	Retained Earnings, Jan. 1	___900
	$ 4,500
	Cash Dividends Declared and Paid	__3,100
	Retained Earnings, Dec. 31	$ 1,400
	*All sales are on account.
Questions	YOUR ANSWERS BASED UPON COURSE START DATE
Compute the following items for Lone Pine Company for 20X2, rounding all calculations to two decimal places and do nt insert a percent symbol.
Quick ratio
Current ratio
Inventory-turnover ratio
Accounts-receivable-turnover ratio
Return-on-assets ratio
Net-profit-margin ratio
Return-on-common-stockholders' equity
Debt-to-total assets
Number of times that interest is earned
Dividend payout rate

2. Ratio computation. The financial statements of the Lone Pine Company follow. LONE PINE COMPANY Comparative Balance Sheets December 31, 20X2 and 20X1 ($000 Omitted) 20X2 20X1 Assets Current Assets Cash and Short-Term Investments $ 1,400 $ 1,400 Accounts Receivable (net) 4,000 3,200 Inventories __9,400 __7,600 Total Current Assets $2,700 $1,400 Property, Plant, and Equipment Land $2,500 $ 1,400 Buildings and Equipment (net) __2,500 __1,800 Total Property, Plant, and Equipment $5,200 $3,200 Total Assets $14,600 $10,800 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable $2,800 $2,500 Notes Payable __2,100 __2,700 Total Current Liabilities $3,900 $4,400 Long-Term Liabilities Bonds Payable 5,100 2,900 Total Liabilities $9,000 $7,300 Stockholders' Equity Common Stock $ 1,200 $ 1,000 Retained Earnings __1,200 __1,000 Total Stockholders' Equity $5,600 $3,500 Total Liabilities and Stockholders' Equity $14,600 $10,800 LONE PINE COMPANY Statement of Income and Retained Earnings For the Year Ending December 31,20X2 ($000 Omitted) Net Sales* $39,000 Less: Cost of Goods Sold $20,000 Selling Expense 6,000 Administrative Expense 4,000 Interest Expense 400 Income Tax Expense __2,000 _32,400 Net Income $ 3,600 Retained Earnings, Jan. 1 ___900 $ 4,500 Cash Dividends Declared and Paid __3,100 Retained Earnings, Dec. 31 $ 1,400 *All sales are on account. Questions YOUR ANSWERS BASED UPON COURSE START DATE Compute the following items for Lone Pine Company for 20X2, rounding all calculations to two decimal places and do nt insert a percent symbol. Quick ratio Current ratio Inventory-turnover ratio Accounts-receivable-turnover ratio Return-on-assets ratio Net-profit-margin ratio Return-on-common-stockholders' equity Debt-to-total assets Number of times that interest is earned Dividend payout rate