The current year financial statements for Blue Water Company and Prime Fish Company are presented below.

	Blue Water				Prime Fish
Balance sheet:
Cash	$	41,000			$	21,000
Accounts receivable (net)		38,000				31,000
Inventory		99,000				40,000
Property & equipment (net)		140,000				401,000
Other assets		84,000				305,000
Total assets	$	402,000			$	798,000
Current liabilities	$	99,000			$	49,000
Long-term debt (interest rate: 10%)		65,000				60,000
Capital stock ($10 par value)		148,000				512,000
Additional paid-in capital		29,000				106,000
Retained earnings		61,000				71,000
Total liabilities and stockholders equity	$	402,000			$	798,000
Income statement:
Sales revenue (1/3 on credit)	$	447,000			$	802,000
Cost of goods sold		(241,000	)			(400,000	)
Operating expenses		(161,000	)			(311,000	)
Net income	$	45,000			$	91,000
Other data:
Per share stock price at end of current year	$	22			$	15
Average income tax rate		30	%			30	%
Dividends declared and paid in current year	$	33,000			$	148,000

Both companies are in the fish catching and manufacturing business. 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. Blue Water is more conservative, and as its president has said, We avoid what we consider to be undue risk. Neither company is publicly held.

Required:

1. Complete a schedule that reflects a ratio analysis of each company.

Quality of income ratio?

Times Interest Earned Ratio?

Cash Coverage Ratio?

We were not given any other data.