Selected data for Franklin Company for 2018 follows: Earnings (net income) Preferred stock (12,600 shares at $40 par , 28) Common stock (43,200 shares no par, market value $48) Retained earnings $ 180,000 $504,000 527,000 568,500 $1,599,500 Less: Treasury stochk Preferred (1,100 shares) Common (1,100 shares) $45,000 23,000 68,000 $1,531,500 Total stockholders' equity Required a. Calculate the Franklin Company's ratios. (Round intermediate calculations and final answer to 2 decimal places.) Price-earnings ratio Return on equity The December 31, 2019, balance sheet for Campbell Corporation is presented here. These are the only accounts on Campbell's balance sheet. Amounts indicated by question marks (?) can be calculated using the following additional information: CAMPBELL CORPORATION Balance Sheet As of December 31, 2019 Assets Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) 20,000 310,000 $450,000 Liabilities and Stockholders' Equity Accounts payable (trade) Income taxes payable (current) Long-term debt Common stock Retained earnings 20,000 316,000 Additional Information Current ratio (at year end) Total liabilities Total stockholders' equity Gross margin percentage Inventory turnover (Cost of goods sold Ending inventory) Gross margin for 2019 1.4 to 1.0 60% 30% 11.2 times $315,000