The Stair Company sells computer parts through a retail store that it operates. The firm's comparative income statement and balance sheet for the years 2019 and 2018 are shown below.

THE STAIR COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2018
	Amounts
	2019		2018
Revenue
Sales	1,110,240		924,300
Less Sales Returns and Allowances	30,240		24,300
Net Sales	1,080,000		900,000
Cost of Goods Sold
Merchandise Inventory, January 1	108,000		105,300
Net Purchases	351,540		295,200
Total Merchandise Available for Sale	459,540		400,500
Less Merchandise Inventory, December 31	113,400		108,000
Cost of Goods Sold	346,140		292,500
Gross Profit on Sales	733,860		607,500
Operating Expenses
Selling Expenses
Sales Salaries Expenses	105,840		98,100
Payroll Tax ExpenseSelling	10,800		9,900
Other Selling Expenses	32,400		25,200
Total Selling Expenses	149,040		133,200
General and Administrative Expenses
Officers' Salaries Expense	172,800		138,600
Payroll Tax ExpenseAdministrative	16,200		11,700
Depreciation Expense	5,400		5,400
Other General and Administrative Expenses	16,200		11,700
Total General and Administrative Expenses	210,600		167,400
Total Operating Expenses	359,640		300,600
Net Income before Income Taxes	374,220		306,900
Income Tax Expense	112,266		92,070
Net Income after Income Taxes	261,954		214,830

THE STAIR COMPANY Comparative Balance Sheet December 31, 2019 and 2018
	Amounts
			2019			2018
Assets
Current Assets
Cash			126,500			61,000
Accounts Receivable			112,600			103,000
Merchandise Inventory			113,400			108,000
Prepaid Expenses			9,800			5,000
Supplies			1,500			600
Total Current Assets			363,800			277,600
Property, Plant, and Equipment
Land			91,000			91,000
Building and Equipment			97,600			97,600
Less Accumulated Depreciation			(21,600	)		(16,200	)
Net Book ValueBuilding and Equipment			76,000			81,400
Total Property, Plant, and Equipment			167,000			172,400
Total Assets			530,800			450,000
Liabilities and Stockholders' Equity
Current Liabilities
Accounts Payable			44,600			73,000
Sales Tax Payable			2,600			5,000
Payroll Taxes Payable			2,700			2,500
Income Taxes Payable			2,600			9,000
Total Current Liabilities			52,500			89,500
Long-Term Liabilities
Mortgage Payable			56,600			61,000
Total Long-Term Liabilities			56,600			61,000
Total Liabilities			109,100			150,500
Stockholders' Equity
Common Stock ($1 par, 10,000 shares authorized; 10,000 shares issued and outstanding)			10,000			10,000
Paid-in CapitalCommon Stock			10,000			10,000
Retained Earnings			401,700			279,500
Total Stockholders' Equity			421,700			299,500
Total Liabilities and Stockholders' Equity			530,800			450,000

Assume all sales are credit sales. Part I

1. Calculate the current ratio for 2018 and 2019.
2. Calculate the acid-test ratio for 2018 and 2019.
3. Calculate the inventory turnover for 2018 and 2019.
4. Calculate the return on sales for 2018 and 2019.
5. Calculate the earnings per share of common stock for 2018 and 2019.
6. Calculate the book value per share of common stock for 2018 and 2019.
7. Calculate the return on total assets for 2018 and 2019.
8. Calculate the ratio of stockholders equity to total equities for 2018 and 2019.
9. Calculate the rate of return on stockholders equity for 2018 and 2019.
10. Calculate the asset turnover for 2018 and 2019.

Please show formulas