Reference no: EM13355642

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	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	20,000
Total	$110,500	$120,100

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.