Ratios (Appendix)

Miller Company's condensed income statement for 2016 and December 31, 2016, balance sheet follow:

Income Statement
Sales (net)		$304,400
Cost of goods sold		(183,600)
Gross profit		$120,800
Operating expenses		(82,000)
Operating income		$38,800
Interest expense		(7,000)
Income before income taxes		$31,800
Income taxes		(10,000)
Net income		21,800

Balance Sheet
Cash	$8,200		Accounts payable	$18,000
Receivables (net)	14,700		Other current liabilities	6,800
Inventory	19,300		Bonds payable, 10%	70,000
Property, plant, and equipment (net)	195,800		Common stock, $10 par	80,500
			Additional paid-in capital on common stock	24,000
			Retained earnings	38,700
Total Assets	$238,000		Total Liabilities and Shareholders' Equity	$238,000

Additional information: The common stock was outstanding the entire year and is selling for $16 per share at year-end. On January 1, 2016, the inventory was $21,500, the total assets were $224,000, the accounts payable were $18,800, and the total shareholders' equity was $130,800. The company operates on a 365-day business year. Required

For the Miller Company, compute the following ratios:

1. Gross profit margin: (Round to two decimal places.)	%
2. Operating profit margin: (Round to two decimal places.)	%
3. Net profit margin: (Round to two decimal places.)	%
4. Total asset turnover: (Round to two decimal places.)	times
5. Return on total assets: (Round to two decimal places. Round tax rate to the nearest whole percent in your intermediate calculations.)	%
6. Return on common equity: (Round to two decimal places.)	%
7. Current ratio: (Round to one decimal place.)	: 1
8. Inventory turnover: (in days) (Round to nearest whole day.)	days
9. Payables turnover: (in days) (Round to nearest whole day. Do not round your intermediate calculations.)	days