The financial statements of Dobson Company appear below: DOBSON COMPANY Balance Sheet December 31, 2010 Assets 2010 Cash........ $ 70,000 Short-term investments... .30,000 Accounts receivable (net). Inventory........ .100,000 .100,000 Property, plant and equipment (net)......... Total assets.. ....500,000 $800,000 Liabilities and stockholders' equity Liabilities and stockholders' equity. Accounts payable. .....$ 20,000 Short-term notes payable. ...80,000 Bonds payable. .176,000 Common stock. 320,000 Retained earnings. 204,000 Total liabilities and stockholders' equity... ....$800,000 DOBSON COMPANY Income Statement For the Year Ended December 31, 2010 DOBSON COMPANY Income Statement For the Year Ended December 31, 2010 $720,000 Net sales.. Cost of goods sold.... .....396,000 Gross profit ...324,000 Expenses Interest expense $24,000 Selling expenses... Administrative expenses...... ..80,000 ...118,000 ...222.000 Total expenses. Income before income taxes. ...102,000 Income tax expense........ ..30.000 Net income...... $ 72,000 Computations Current ratio Receivables turnover Profit margin Price Earnings ratio 5. Debt to total assets ratio Earnings Per Share ON Inventory Turnover_