The comparative statements of Painter Tool Company are presented below. PAINTER TOOL COMPANY Income Statement For the Years Ended December 31 2017 2016 Net sales $1,817,800 $1,753,700 Cost of goods sold 1,006,800 972,000 Gross profit 811,000 781,700 Selling and administrative expenses 511,800 476,400 Income from operations 299,200 305,300 Other expenses and losses Interest expense 17,400 13,900 Income before income taxes 281,800 291,400 Income tax expense 81,800 77,900 Net income $ 200,000 $ 213,500 PAINTER TOOL COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash $60,700 $63,400 Short-term investments 68,000 50,900 Accounts receivable (net) 117,800 101,200 Inventory 122,000 114,400 Total current assets 368,500 329,900 Plant assets (net) 595,000 521,600 Total assets $963,500 $851,500 Liabilities and Stockholders Equity Current liabilities Accounts payable $160,100 $144,700 Income taxes payable 43,300 41,400 Total current liabilities 203,400 186,100 Bonds payable 204,300 204,300 Total liabilities 407,700 390,400 Stockholders equity Common stock ($5 par) 278,000 300,700 Retained earnings 277,800 160,400 Total stockholders equity 555,800 461,100 Total liabilities and stockholders equity $963,500 $851,500 All sales were on account. Compute the following ratios for 2017. (Weighted-average common shares in 2017 were 59,300.) (a) Earnings per share $ (b) Return on common stockholders equity % (c) Return on assets % (d) Current ratio :1 (e) Acid-test ratio :1 (f) Accounts receivable turnover times (g) Inventory turnover times (h) Times interest earned times (i) Asset turnover times (j) Debt to assets ratio