The 2017 financial statements for Armstrong and Blair companies are summarized below:

	Armstrong Company				Blair Company
Statement of Financial Position
Cash	$	34,800			$	27,500
Accounts receivable (net)		56,000				42,500
Inventory		185,000				44,000
Property, plant, and equipment (net)		187,500				460,000
Other non-current assets		98,000				342,500
Total assets	$	561,300			$	916,500
Current liabilities	$	127,000			$	51,000
Long-term debt (10%)		79,000				74,000
Share capital		215,000				548,000
Contributed surplus		41,500				150,000
Retained earnings		98,800				93,500
Total liabilities and shareholders equity	$	561,300			$	916,500
Statement of Earnings
Sales revenue (1/3 on credit)	$	610,000			$	980,000
Cost of sales		(305,000	)			(441,000	)
Expenses (including interest and income tax)		(219,600	)			(392,000	)
Net earnings	$	85,400			$	147,000

Selected data from the 2016 statements follows:

Accounts receivable (net)	$	36,000			$	56,000
Inventory		76,000				26,000
Long-term debt		79,000				74,000
Other data:
Share price at end of 2017	$	18			$	15
Income tax rate		30	%			30	%
Dividends declared and paid in 2017	$	46,000			$	310,000
Number of common shares during 2017		15,000				50,000

The companies are in the same line of business and are direct competitors in a large metropolitan area. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blair Company is more conservative, and as its president said, "We avoid what we consider to be undue risk." Neither company is publicly held. Armstrong Company has an annual audit by an independent auditor, but Blair Company does not.

Required:
1.	Complete a schedule that reflects a ratio analysis of each company. Use ending balances if average balances are not available. (Round intermediate calculations and final answers to 2 decimal places.)

I need both the Return on Assets ratios, both the Financial leverage percentages, both the Cash ratios and both the times interest earned ratios.

Armstrong Company Blair Company 24.04 % 15.21 % 8.83 % 5.69 per share 14.00 % 3.25 times 18.57 % 16.04 % 2.53 % $ 2.94 per share 15.00 % 2.13 times $ 27.40 Ratio Tests of profitability: Return on equity Return on assets Financial leverage percentage Earnings per share Profit margin Fixed asset turnover Tests of liquidity: Cash ratio Current ratio Quick ratio Receivables turnover Inventory turnover Tests of solvency: Times-interest-earned ratio Debt-to-equity ratio Market tests: Pricelearnings ratio Dividend yield ratio 53.92 2.24 2.17 0.71 1.37 4.42 times 6.63 times 2.34 times 12.60 times times times 0.58 0.16 3.16 5.10 17.04 % 41.33 %