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Scully Corporation's comparative balance sheets are presented below.
SCULLY CORPORATION Balance Sheets December 31
2008
2007
Cash
$ 4,300
$ 3,700
Accounts receivable
21,200
23,400
Inventory
10,000
7,000
Land
20,000
26,000
Building
70,000
Accumulated depreciation
(15,000)
(10,000)
Total
$110,500
$120,100
Accounts payable
$ 12,370
$ 31,100
Common stock
75,000
69,000
Retained earnings
23,130
Scully's 2008 income statement included net sales of $100,000, cost of goods sold of $60,000, and net income of $15,000.
Instructions
Compute the following ratios for 2008.
(a) Current ratio.
(b) Acid-test ratio.
(c) Receivables turnover.
(d) Inventory turnover.
(e) Profit margin.
(f) Asset turnover.
(g) Return on assets.
(h) Return on common stockholders' equity.
(i) Debt to total assets ratio.
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