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8. Lundberg Corporation's most recent balance sheet and income statement appear below:

Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars)
	Year 2		Year 1
Asset:
Current assets:
Cash	$	200	$	210
Accounts receivable		310		320
Inventory		210		200
Prepaid expenses		25		25
Total current assets		745		755
Plant and equipment, net		980		960
Total assets	$	1,725	$	1,715
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	260	$	250
Accrued liabilities		150		150
Notes payable, short term		200		210
Total current liabilities		610		610
Bonds payable		290		340
Total liabilities		900		950
Stockholders' equity:
Preferred stock, $100 par value, 10%		300		300
Common stock, $1 par value		100		100
Additional paid-in capital--common stock		110		110
Retained earnings		315		255
Total stockholders' equity		825		765
Total liabilities and stockholders' equity	$	1,725	$	1,715

Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars)
Sales (all on account)	$	1,430
Cost of goods sold		860
Gross margin		570
Selling and administrative expenses		329
Net operating income		241
Interest expense		41
Net income before taxes		200
Income taxes (30%)		60
Net income	$	140

Dividends on common stock during Year 2 totaled $50 thousand. The market price of common stock at the end of Year 2 was $9.46 per share. f. Compute the return on total assets for Year 2. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "%" sign in your response.) Return on total assets % g. Compute the return on common stockholders' equity for Year 2. (Round your answer to 2 decimal places. Omit the "%" sign in your response.) Return on common stockholders' equity % h. Compute the book value per share for Year 2. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Book value per share $ i. Compute the working capital for Year 2. (Input your answer in thousands of dollars. Omit the "$" sign in your response.) Working capital $ j. Compute the current ratio for Year 2. (Round your answer to 2 decimal places.) Current ratio k. Compute the acid-test ratio for Year 2.(Round your answer to 1 decimal place.) Acid-test ratio l. Compute the accounts receivable turnover for Year 2. (Round your answer to 2 decimal places.) Accounts receivable turnover m. Compute the average collection period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to one decimal place.) Average collection period days n. Compute the inventory turnover for Year 2. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Inventory turnover $ o. Compute the average sale period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.) Average sale period days p. Compute the times interest earned for Year 2. (Round your answer to 2 decimal places.) Times interest earned q. Compute the debt-to-equity ratio for Year 2. (Round your answer to 2 decimal places.) Debt-to-equity ratio

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