The accounting staff of SST Enterprises has completed the financial statements for the 2014 calendar year. The statement of income for the current year and the comparative statements of financial position for 2014 and 2013 follow.

1. Calculate the following financial ratios for 2014 for SST Enterprises: Assume that all sales and all purchases are on credit. In your calculations for item b, round the tax rate to the nearest whole percent. Round items h, j, and k to the nearest whole number. Round all other amounts to two decimal places. Assume a 360-day year.

a. Times interest earned	times
b. Return on total assets	%
c. Return on common stockholders' equity	%
d. Debt-to-equity ratio (at December 31, 2014)	to 1
e. Current ratio (at December 31, 2014)	to 1
f. Quick (acid-test) ratio (at December 31, 2014)	to 1
g. Accounts receivable turnover ratio (Assume that all sales are on credit.)	times
h. Number of days' sales in receivables	days
i. Inventory turnover ratio (Assume that all purchases are on credit.)	times
j. Number of days' sales in inventory	days
k. Number of days in cash operating cycle	days

SST Enterprises Statement of Income Year Ended December 31, 2014 (thousands omitted) Revenue Net sales Other $600,000 45,000 $645,000 Total revenue Expenses Cost of goods sold Research and development Selling and administrative Interest $405,000 18,000 120,000 15,000 $558,000 87,000 27,000 60,000 Total expenses Income before income taxes Income taxes Net income SST Enterprises Comparative Statements of Financial Position December 31, 2014 and 2013 (thousands omitted) 2014 2013 Assets Current assets Cash and short-term investments Receivables, less allowance for doubtful accounts 27,000 20,000 ($1,100 in 2014 and $1,400 in 2013) Inventories, at lower of FIFO cost or market Prepaid items and other current assets 36,00037,000 35,00042,000 1,000 $100,000 $100,000 2013 2,000 Total current assets 2014 Property, plant, and equipment: Land Buildings and equipment, less accumulated depreciation $ 9,0009,000 ($74,000 in 2014 and $62,000 in 2013) Total property, plant, and equipment 191,000186,000 $200,000 $195,000 $300,000 $295,000 Total assets Liabilities and Stockholders' Equity Current liabilities Short-tem loans Accounts payable Salaries, wages, and other Total current liabilities 20,000 15,000 80,00068,000 7,000 $105,00090,000 15,00040,000 $120,000 $130,000 5,000 Long-term debt Total liabilities Stockholders' equity: Common stock, at par Paid-in capital in excess of par 50,000 50,000 25,00025,000 $75,000 75,000 105,000 90,000 $180,000 $165,000 $300,000 $295,000 Total paid-in capital Retained eamings Total stockholders' equity Total liabilities and stockholders' equity