The comparative statements of Larker Tool SA are presented below.

LARKER TOOL SA

Income Statement

For the Years Ended December 31

LARKER TOOL SA
Statements of Financial Position
December 31

All sales were on account.
Instructions
Compute the following ratios for 2017. (Weighted-average ordinary shares in 2017 were 60,000.)
(a) Earnings per share.
(b) Return on ordinary shareholders' equity.
(c) Return on assets.
(d) Current ratio.
(e) Acid-test ratio.
(f) Accounts receivable turnover.
(g) Inventory turnover.
(h) Times interest earned.
(i) Asset turnover.
(j) Debt to assets ratio?

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2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expense Income from operations Interest expense Income before income taxes Income tax expense Net income R$1,818,500 R$1,750,500 996,000 754,500 479,000 275,500 14,000 261,500 77,000 R$ 192,000 R$ 184,500 1,011,500 807,000 516,000 291,000 15,000 276,000 84,000 Assets Plant assets (net) Current assets 2017 2016 R$600,300 R$520,300 Inventory Accounts receivable (net) Short-term investments Cash R$110,950 105,750 69,000 60,100 R$115,500 102,800 50,000 64,200 345,800 R$946,100 332,500 R$852,800 Total assets 2017 2016 Equity and Liabilities Equity Share capital ordinary (R$5 par) Retained earnings R$300,000 242,600 542,600 200,000 R$300,000 165,400 465,400 200,000 Total equity Bonds payable Current liabilities 160,000 43,500 203,500 403,500 R$946,100 Accounts payable Income taxes payable 145,400 42,000 187,400 387,400 R$852,800 Total current liabilities Total liabilities Total equity and liabilities