Review the following six ratios for both Johnson Company and Lee Enterprises for the year ended 2014, and based on this information address the two questions below.

Ratio Name	Johnson Company	Lee Enterprises
(a) Accounts receivable turnover	6.5	5.3
(b) Days inventory outstanding	40	35
(c) Debt ratio	29.3%	25.7%
(d) Return on common stockholders equity	14.7%	10.5%
(e) Current ratio	2.50	3.60
(f) Price/Earnings ratio	10	12

Instructions: This is a two-part question.

(1) Explain the meaning of each of the Johnson Company ratios above. (30 points) (2) State which company performed better for each individual ratio. (10 points)