The comparative statements of Painter Tool Company are presented DertW PAINTER TOOL COMPANY Income Statement For the Years Ended December 31 SA 2017 2016 ts by Study Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,810,600 1,013,100 797,500 519,000 278,500 $1,749,200 999,000 750,200 473,600 276,600 Interest expense Income before income taxes Income tax expense Net income 17,700 260,800 81,700 $ 179,100 13,600 263,000 77,700 $ 185,300 Balance Sheets December 31 Assets 2017 2016 Current assets Cash Short-term investments Accounts receivablex net) Inventory $59,800 $64,400 50,200 117,600 102,300 114,400 331,300 516,800 $965,600 $848,100 68,800 123,300 369,500 596,100 Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable $160,900 43,100 204,000 201,000 405,000 $145,400 42,500 187,900 201,000 388,900 Total current liabilities Bonds payable Total liabilities Stockholders equity Common stock ($5 par) Retained earnings 297,400 161,800 459,200 $965,600 $848,100 276,500 284,100 560,600 Total stockholders' equity Total liabilities and stockholders equity Exercise 18-3 All sales were on account were 52,700.) (Round Earnings pe Compute the following ratios for 2017, (Weighted-average common shares in 2017 ces, e.g. 1.65 or 1.65: 1, and all other answers to l decinal place, eg. 6.8 or 68%) eview Score cview Results by Study biective (a) Earnings per share (b) Return on common stockholders equity (c) Return on assets (d) Current ratio (e) Acid-test ratio (1) Accounts receivable turnover (o) Inventory turnover (h) Times interest earned (i) Asset turnover (i) Debt to assets ratio Click if you would like to Show work for this question: Qpen Show Work times times times times VIDEO, SIMILAR