Reference no: EM13608371
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 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 %