Compute the following use 365 days a year do not round

Reference no: EM13576047

Selected year-end financial statements of McCord Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2010, were inventory, $32,400; total assets, $182,400; common stock, $90,000; and retained earnings, $31,300.)

McCORD CORPORATION Income Statement For Year Ended December 31, 2011
Sales	$	348,600
Cost of goods sold		229,150

Gross profit		119,450
Operating expenses		52,500
Interest expense		3,100

Income before taxes		63,850
Income taxes		15,800

Net income	$	48,050

McCORD CORPORATION Balance Sheet December 31, 2011
Assets			Liabilities and Equity
Cash	$	9,000	Accounts payable	$	16,500
Short-term investments		7,400	Accrued wages payable		2,200
Accounts receivable, net		28,200	Income taxes payable		2,300
Notes receivable (trade)*		3,500	Long-term note payable, secured
Merchandise inventory		31,150	by mortgage on plant assets		62,400
Prepaid expenses		1,650	Common stock		90,000
Plant assets, net		152,300	Retained earnings		59,800

Total assets	$	233,200	Total liabilities and equity	$	233,200

* These are short-term notes receivable arising from customer (trade) sales.

Required:

Compute the following. (Use 365 days a year. Do not round intermediate calculations and round your final answers to 1 decimal place. Omit the "%" sign in your response):


(1)	Current ratio	to
(2)	Acid-test ratio	to
(3)	Days' sales uncollected (including note)	days
(4)	Inventory turnover	times
(5)	Days' sales in inventory	days
(6)	Debt-to-equity ratio	to
(7)	Times interest earned	times
(8)	Profit margin ratio	%
(9)	Total asset turnover	times
(10)	Return on total assets	%
(11)	Return on common stockholders' equity	%

Reference no: EM13576047

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