The following financial statements apply to Thornton Company: 2019 2018 Revenues $211,500 $175,000 8,300 Net sales Other revenues 5,100 219,800 180, 100 Total revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense 124,300 102,600 20,900 18,900 10,100 2,500 21,000 16,300 9,100 2,500 178,800 149,400 Total expenses 41,000 $ 30, 700 Net income Assets Current assets Cash Marketable securities Accounts receivable $ 5,100 $ 7,900 2,500 35,60031,10 2,500 Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles 35,600 31,100 101,500 94,100 4,400 2463,400 149,100 139,000 105,100 105,100 21,900 Total assets $276,100 $244,100 Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities $ 39,800 54,300 15,400 16,980 55,200 71,200 64,100 65,100 Bonds payable Total liabilities 119,300 136, 300 Stockholders' equity Common stock (49,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 114,700 114,700 42,100 (6,990) 156, 800 107,800 $276,100 $244,100 Required Calculate the following ratios for 2018 and 2019. Since 2017 numbers are not presented do not use averages when calculating the ratios for 2018. Instead, use the number presented on the 2018 balance sheet. a. Net margin. (Round your answers to 2 decimal places.) b. Return on investment. (Round your answers to 2 decimal places.) c. Return on equity. (Round your answers to 2 decimal places.) d. Earnings per share. (Round your answers to 2 decimal places.) e. Price-earnings ratio (market prices at the end of 2018 and 2019 were $6.03 and $4.93, respectively). (Round your intermediate calculations and final answers to 2 decimal places. f. Book value per share of common stock. (Round your answers to 2 decimal places.) g. Times interest earned. Exclude extraordinary income in the calculation as they cannot be expected to recur and, therefore, will not be available to satisfy future interest payments. (Round your answers to 2 decimal places.) h. Working capital. i. Current ratio. (Round your answers to 2 decimal places.) j. Quick (acid-test) ratio. (Round your answers to 2 decimal places.) k. Accounts receivable turnover. (Round your answers to 2 decimal places.) I. Inventory turnover. (Round your answers to 2 decimal places.) m. Debt to equity ratio. (Round your answers to 2 decimal places.) n. Debt to assets ratio. (Round your answers to the nearest whole percent.) 2018 2018 2019 a. Net margin b. Return on investment c. Return on equity d. Earnings per share times times Price-earnings ratio e. f. Book value times times g. Interest earned h. Working capital i. Current ratio j. Quick (acid-test) ratio k. Accounts receivable turnover times times times times Inventory turnover I. m. Debt to equity ratio n. Debt to assets ratio