1. Refer to the financial information below for Company X.

Company X
Condensed Income Statement
For the Periods Ending December 31, This Year
	This Year ($)
INCOME STATEMENT
Sales	800,000
Cost of Sales	350,000
Gross Profit	450,000
Operating Expenses (Excluding Depreciation)	280,000
Depreciation	60,000
Operating Income (EBIT)	110,000
Interest	14,000
Income Before Income Taxes	96,000
Income Taxes (40%)	50,000
Net Income	46,000

Company X
Balance Sheets
December 31, This Year
	This Year ($)
ASSETS
Current Assets
Cash	50,000
Marketable Securities	90,000
Net Receivables	110,000
Inventories	6,000
Total Current Assets	256,000
Property and Equipment	2,000,000
Less Accumulated Depreciation	140,000
Net Property and Equipment	1,860,000
TOTAL ASSETS	2,116,000
LIABILITIES AND OWNERS' EQUITY
Current Liabilities
Accounts Payable	50,000
Notes Payable	60,000
Accrued Wages	28,000
Total Current Liabilities	138,000
Long-Term Liabilities
Long-Term Debt	160,000
Total Liabilities	298,000
Owners' Equity
Capital Stock	700,000
Retained Earnings	1,118,000
Total Owners' Equity	1,818,000
TOTAL LIABILITIES AND OWNERS' EQUITY	2,116,000

Calculate the ratios below. Please show your work and round to the hundredth's place (i.e., 12.34% or 12.34 times).

1. Calculate Company x's current ratio
2. Calculate Company X's quick ratio
3. Calculate Company X's working capital
4. Calculate Company X's property and equipment turnover
5. Calculate Company X's times interest earned
6. Calculate Company X's debt-to-assets ratio
7. Calculate Company X's profit margin
8. Calculate Company X's return on assets
9. Calculate Company X's return on equity (2 Marks)