The comparative statements of Villa Tool Company

The comparative statements of Villa Tool Company are presented below.VILLA TOOL COMPANYIncome StatementFor the Year Ended December 3120122011Net sales$1,818,500$1,750,500Cost of goods sold1,011,500996,000Gross profit807,000754,500Selling and administrative expense516,000479,000Income from operations291,000275,500Other expenses and lossesInterest expense18,00014,000Income before income taxes273,000261,500Income tax expense81,00077,000Net income$ 192,000$ 184,500VILLA TOOL COMPANYBalance SheetsDecember 31Assets20122011Current assetsCash$ 60,100$ 64,200Short-term investments69,00050,000Accounts receivable (net)117,800102,800Inventory123,000115,500Total current assets369,900332,500Plant assets (net)600,300520,300Total assets$970,200$852,800Liabilities and Stockholders’ EquityCurrent liabilitiesAccounts payable$160,000$145,400Income taxes payable43,50042,000Total current liabilities203,500187,400Bonds payable200,000200,000Total liabilities403,500387,400Stockholders’ equityCommon stock ($5 par)280,000300,000Retained earnings286,700165,400Total stockholders’ equity566,700465,400Total liabilities and stockholders’ equity$970,200$852,800Compute the following ratios for 2012. (Weighted average common shares in 2012 were 57,000, and all sales were on account.)(Round earnings per share, current ratio and acid-test ratio to 2 decimal places, e.g. 10.50. Round other answers to 1 decimal place, e.g. 10.5.)(a)Earnings per share$(b)Return on common stockholders’ equity%(c)Return on assets%(d)Current:1(e)Acid-test:1(f)Receivables turnovertimes(g)Inventory turnovertimes(h)Times interest earnedtimes(i)Asset turnovertimes(j)Debt to total assets%