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Scully Corporation's comparative balance sheets are presented below. SCULLY CORPORATION Balance Sheets December 31 2010 2009 Cash $ 3,433 $ 3,389 Accounts receivable 21,300 23,481
Scully Corporation's comparative balance sheets are presented below. SCULLY CORPORATION Balance Sheets December 31 2010 2009 Cash $ 3,433 $ 3,389 Accounts receivable 21,300 23,481 Inventory 10,081 6,560 Land 20,235 26,486 Building 70,370 70,370 Accumulated depreciation (15,170) (10,507) Total $110,249 $119,779 Accounts payable $ 11,976 $ 31,379 Common stock 74,450 70,940 Retained earnings 23,823 17,460 Total $110,249 $119,779 Scully's 2010 income statement included net sales of $111,340, cost of goods sold of $59,759, and net income of $15,948. Instructions Compute the following ratios for 2010. (a) Current ratio. (b) Acid-test ratio. (c) Receivables turnover. (d) Inventory turnover. (e) Profit margin. (f) Asset turnover. (g) Return on assets. (h) Return on common stockholders' equity. (i) Debt to total assets ratio. (Round answers to 1 decimal place, e.g. 10.5.) current ration acid test ration reveibalbes turnover inventory turnover profit margin asset turnover return on assets return on common stockholders equity debt to total assets ratio
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