The current year financial statements for Blue Water Company and Prime Fish Company are presented...

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Accounting

The current year financial statements for Blue Water Company and Prime Fish Company are presented below.
Blue Water Prime Fish
Balance sheet
Cash $ 42,000 $ 20,000
Accounts receivable (net)43,00034,000
Inventory 94,00046,000
Property & equipment (net)155,000413,000
Other assets 85,000315,000
Total assets $ 419,000 $ 828,000
Current liabilities $ 94,000 $ 64,000
Long-term debt (interest rate: 10%)72,00062,000
Capital stock ($10 par value)155,000522,000
Additional paid-in capital 30,000107,000
Retained earnings 68,00073,000
Total liabilities and stockholders equity $ 419,000 $ 828,000
Income statement
Sales revenue (1/3 on credit) $ 432,000 $ 792,000
Cost of goods sold (236,000)(401,000)
Operating expenses (163,000)(312,000)
Net income $ 33,000 $ 79,000
Other data
Per share stock price at end of current year $ 23.0 $ 25
Average income tax rate 30%30%
Dividends declared and paid in current year $ 34,000 $ 153,000
Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blue Water is more conservative, and as its president has said, We avoid what we consider to be undue risk. Neither company is publicly held. Using year-end balances for all ratios, compute the following ratios:
Note: Round your intermediate calculations and final answers to 2 decimal places. Ent
decimal places (i.e.0.1234 should be entered as 12.34).
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