The condensed financial statements of Marks Company for theyears 2014-2015 are presented below:
Marks Company Comparative Balance Sheets As of December 31, 2014and 2015
2015 2014
Cash $367,000 $134,000
Accounts receivable (net) 373,000 308,000
Inventories 379,000 342,000
Plant and equipment 1,850,000 1,116,000
Accumulated depreciation (263,000 ) (192,000 )
$2,706,000 $1,708,000
Accounts payable $342,000 $163,000
Dividends payable -0- 43,000
Bonds payable 400,000 -0-
Common stock ($10 par) 1,523,000 1,220,000
Retained earnings 441,000 282,000
$2,706,000 $1,708,000
Additional data:
Market value of stock at 12/31/15 is $80 per share.
Marks sold 35,000 shares of common stock at par on July 1,2015.
Marks Company Condensed Income Statement For the Year EndedDecember 31, 2015
Sales revenue $2,428,000
Cost of goods sold 1,649,000
Gross profit 779,000
Administrative and selling expenses 500,000
Net income $279,000
Compute the following financial ratios by placing the properamounts for numerators and denominators. (Round per unit answers to2 decimal places, e.g. 52.75.)
(a) Current ratio at 12/31/15
(b) Acid test ratio at 12/31/15
(c) Accounts receivable turnover in 2015
(d) Inventory turnover in 2015
(e) Profit margin on sales in 2015
(f) Earnings per share in 2015
(g) Return on common stock equity in 2015
(h) Price earnings ratio at 12/31/15
(i) Debt to assets at 12/31/15
(j) Book value per share at 12/31/15