Revenues
Net sales	$	211,200			$	176,900
Other revenues		8,600				6,100
Total revenues		219,800				183,000
Expenses
Cost of goods sold		125,500				102,100
Selling expenses		20,000				18,000
General and administrative expenses		9,500				8,500
Interest expense		2,900				2,900
Income tax expense		19,200				17,300
Total expenses		177,100				148,800
Net income	$	42,700			$	34,200
Assets
Current assets
Cash	$	4,400			$	7,900
Marketable securities		2,600				2,600
Accounts receivable		36,600				31,400
Inventories		100,400				94,500
Prepaid expenses		3,800				2,800
Total current assets		147,800				139,200
Plant and equipment (net)		105,200				105,200
Intangibles		21,600				0
Total assets	$	274,600			$	244,400
Liabilities and Stockholders Equity
Liabilities
Current liabilities
Accounts payable	$	38,200			$	55,600
Other		15,000				16,600
Total current liabilities		53,200				72,200
Bonds payable		65,000				66,000
Total liabilities		118,200				138,200
Stockholders equity
Common stock (46,000 shares)		115,000				115,000
Retained earnings		41,400				(8,800	)
Total stockholders equity		156,400				106,200
Total liabilities and stockholders equity	$	274,600			$	244,400

Required Calculate the following ratios for Year 3 and Year 4. Since Year 2 numbers are not presented do not use averages when calculating the ratios for Year 3. Instead, use the number presented on the Year 3 balance sheet. a. Net margin. (Round your answers to 2 decimal places.) b. Return on investment. (Round your answers to 2 decimal places.) c. Return on equity. (Round your answers to 2 decimal places.) d. Earnings per share. (Round your answers to 2 decimal places.) e. Price-earnings ratio (market prices at the end of Year 3 and Year 4 were $6.02 and $4.87, respectively). (Round your intermediate calculations and final answers to 2 decimal places.) f. Book value per share of common stock. (Round your answers to 2 decimal places.) g. Times interest earned. Exclude extraordinary income in the calculation as they cannot be expected to recur and, therefore, will not be available to satisfy future interest payments. (Round your answers to 2 decimal places.) h. Working capital. i. Current ratio. (Round your answers to 2 decimal places.) j. Quick (acid-test) ratio. (Round your answers to 2 decimal places.) k. Accounts receivable turnover. (Round your answers to 2 decimal places.) l. Inventory turnover. (Round your answers to 2 decimal places.) m. Debt-to-equity ratio. (Round your answers to 2 decimal places.) n. Debt-to-assets ratio. (Round your answers to the nearest whole percent.)

		Year 4		Year 3
a.	Net margin		%		%
b.	Return on investment		%		%
c.	Return on equity		%		%
d.	Earnings per share
e.	Price-earnings ratio		times		times
f.	Book value
g.	Interest earned		times		times
h.	Working capital
i.	Current ratio
j.	Quick (acid-test) ratio
k.	Accounts receivable turnover		times		times
l.	Inventory turnover		times		times
m.	Debt-to-equity ratio
n.	Debt-to-assets ratio		%		%