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Requirement: Calculate Ratios 1-8 listed below using the following information:
Wooden Structure Inc.
Balance Sheet
At Decemer 31, 2020
Assets
Cash	$95
Accounts Receivable	70
Inventory	125
Prepaid Insurance	40
Property, plant, and equipment
(at carrying amount)	355
Total Assets	$685
Liabilities and Stockholder's Equity
Accounts Payable	$100
Long Term Notes Payable	120
Preferred Shares	50
Common Shares	300
Retain Earnings	115
Total Liabilities and Stockholder's Equity	$685
Wooden Structure Inc.
Income Statement
For Year Ended Decemer 31, 2020
Sales		$425
Cost of goods Sold		205
Gross Profit		220
Operating Expenses
Wages	$70
Depreciation	10	80
Income from Operations		140
Interest Expense		11
Income before income taxes		129
Income Tax Expense		14
Net Income (Loss)		$115
Additional Information:
a. 70% of sales are on credit
b. Average of balance sheet items is equal to amounts at December 31
c. Dividends have been paid in total of $12
d. The number of common shares outstanding is 20
Calculate the following Ratios:
Round Answers 2 decimal points
1. Current ratio
2. Return on total assets
3. Sales to total assets
4. Acid test ratio
5. Times interest earned
6. Earnings per share
7. Return on shareholders' equity

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