VILLA TOOL COMPANY
	Income Statement
	For the Year Ended December 31
		2012		2011
	Net sales	$1,818,500		$1,750,500
	Cost of goods sold	1,011,500		996,000
	Gross profit	807,000		754,500
	Selling and administrative expense	516,000		479,000
	Income from operations	291,000		275,500
	Other expenses and losses
	Interest expense	18,000		14,000
	Income before income taxes	273,000		261,500
	Income tax expense	81,000		77,000
	Net income	$ 192,000		$ 184,500
	VILLA TOOL COMPANY
	Balance Sheets
	December 31
	Assets	2012		2011
	Current assets
	Cash	$ 60,100		$ 64,200
	Short-term investments	69,000		50,000
	Accounts receivable (net)	117,800		102,800
	Inventory	123,000		115,500
	Total current assets	369,900		332,500
	Plant assets (net)	600,300		520,300
	Total assets	$970,200		$852,800
	Liabilities and Stockholders’ Equity
	Current liabilities
	Accounts payable	$160,000		$145,400
	Income taxes payable	43,500		42,000
	Total current liabilities	203,500		187,400
	Bonds payable	200,000		200,000
	Total liabilities	403,500		387,400
	Stockholders’ equity
	Common stock ($5 par)	280,000		300,000
	Retained earnings	286,700		165,400
	Total stockholders’ equity	566,700		465,400
	Total liabilities and stockholders’ equity	$970,200		$852,800

Compute 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%