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Working Backwards Using Common Ratios Suppose that Benjamin Company's assets, liabilities, and equity stayed the...

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Working Backwards Using Common Ratios Suppose that Benjamin Company's assets, liabilities, and equity stayed the same during 2018. The following information for Benjamin Company for 2018 has been assembled: Price-earnings ratio 37 Total equity $300,000 Debt ratio 80% Net income $81,900 Asset turnover 0.75 Current liabilities 250,000 Long-term assets $560,000 Required: Compute the following: When required round "Current ratio" answer to two decimal places and "Return on equity and Return on sales" answers to 1 decimal place. 1. Return on equity 27.3 % 2. Total assets 312,500 X 3. Net sales 4. Return on sales % 5. Current ratio 6. Total market value of shares

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