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Problem 3-13 Axtel Company has the following financial statements. Axtel Company Balance Sheet For the period ended 12/31/X1 ($000) ASSETS 12/31/X0 Cash 3529 Accounts receivable 6969 Inventory 2573 CURRENT ASSETS $ 13071 12/31/X1 2865 5124 3220 $ 11209 Fixed assets Gross $ $ Accumulated deprec. 22478 (12389) 10089 24360 (12844) 11516 Net $ $ TOTAL ASSETS $ 23160 $ 22725 LIABILITIES 1504 Accounts payable $ 1704 Accruals 295 404 CURRENT LIABILITIES $ 1799 $ 2108 $ 7112 $ Long-term debt Equity TOTAL CAPITAL 6002 14615 14249 $ 21361 $ 20617 TOTAL LIABILITIES AND EQUITY $ 23160 $ 22725 Axtel Company Income Statement For the period ended 12/31/X1 ($000) Sales $ 36204 COGS 20286 Gross margin $ 15918 Expense $ 10507 EBIT $ 5411 713 Interest EBT $ 4698 Tax 1605 Net income $ 3093 In addition, Axtel retired stock for $1,000,000 and paid a dividend of $1,727,000. Depreciation for the year was $455,000. Calculate the ratios for the Axtel Company. Assume Axtel had leasing costs of $7,267,000 and amortization of $1,416,000 in 20X1, and had 1268000 shares of stock outstanding that were valued at $28.75 per share at year end. The firm must also make principal repayments of $1.012,000 on its outstanding debt this year. Assume 360 days in a year. Round your answers to two decimal places. Current Ratio 5.32 Quick Ratio 3.79 Average Collection Period (ACP) Inventory Turnover (using COGS 51.40 days 17.00 X Inventory Turnover (using sales) 12.50 Fixed Asset Turnover 3.35 Total Asset Turnover 1.58 100 % Debt Ratio 0.55 Debt to Equity Ratio Times Interest Earned (TIE) 5.34 4.02 Cash Coverage 1.00 X Fixed Charge Coverage EBITDA Coverage Return on Sales 14.95 Return on Assets 13.48 % Return on Equity 13.48 % Price Earnings Ratio (P/E) Market to Book Value Ratio

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