The financial statements of Elcamino Company appear below: Additional information:
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.
Computations
1. Current ratio _________.
2. Return on common stockholders' equity _________.
3. Price-earnings ratio _________.
4. Inventory turnover _________.
5. Accounts receivable turnover _________.
6. Times interest earned _________.
7. Profit margin _________.
8. Days in inventory _________.
9. Payout ratio _________.
10. Return on assets _________.
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.
Computations

Question

The financial statements of Elcamino Company appear below:   Additional information:
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.
Computations
1. Current ratio _________.
2. Return on common stockholders' equity _________.
3. Price-earnings ratio _________.
4. Inventory turnover _________.
5. Accounts receivable turnover _________.
6. Times interest earned _________.
7. Profit margin _________.
8. Days in inventory _________.
9. Payout ratio _________.
10. Return on assets _________. 
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.
Computations

Quizplus · Accepted Answer

The Answer of The financial statements of Elcamino Company appear below:   Additional information:
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.
Computations
1. Current ratio _________.
2. Return on common stockholders' equity _________.
3. Price-earnings ratio _________.
4. Inventory turnover _________.
5. Accounts receivable turnover _________.
6. Times interest earned _________.
7. Profit margin _________.
8. Days in inventory _________.
9. Payout ratio _________.
10. Return on assets _________. 
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.
Computations

The Financial Statements of Elcamino Company Appear Below