The comparative statements of Painter Tool Company are presented below PAINTER TOOL COMPANY Income Statement For the Years Ended December 31 201 2016 $1,812,700 1,007,700 $1,746,500 981,000 Net sales Cost of goods sold 765,500 Gross profit 805,000 516,800 Selling and administrative expenses 477,000 288,500 Income from operations Other expenses and losses Interest expense 288,200 13,600 18,400 269,800 82,000 Income before income taxes 274,900 77,000 Income tax expense S187,800 S 197,900 Net income PAINTER TOOL COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets $59,100 69,400 117,100 123,000 $65,000 49,900 102,600 115,500 Cash Short-term investments Accounts receivable (net) Inventory Total current assets 368,600 333,000 Plant assets (net) 602,000 521,600 $970,600 $854,600 Total assets Liabilities and Stockholders' Equity, Current liabilities $144,900 42,400 $159,600 43,100 Accounts payable Income taxes payable Total current liabilities 202,700 187,300 Bonds payable 198,600 198,600 Total liabilities 401,300 385,900 Stockholders' equity 283,100 286,200 569,300 O0 302,500 166,200 Common stock ($5 par) Retained earnings Total stockholders' equity 468,700 $970,600 $854,600 Total liabilities and stockholders' equity All sales were on account. Compute the following ratios for 2017. (Weighted-average common shares in 2017 were 51,800.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Acid-test ratio (f) Accounts receivable turnover times (9) Inventory turnover times (h) Times interest earned times (i) Asset turnover times (i) Debt to assets ratio