The Financial Statements of Hainz Company Appear Below Additional Information:
A

The financial statements of Hainz Company appear below: $\begin{array}{lcc} \text { Liabilities and stockholders' equity}\\ \text { Accounts payable } & \$ 20,000&\$30,000 \\ \text { Short-term notes payable} & 40,000 &90,000\\ \text { Bonds payable } & 80,000 &160,000\\\text { Common stock } & 150,000&150,000 \\\text { Retained earnings} & 110,000&70,000 \\\text { Total liabilities and stockholders' equity }&\$400,000&\$500,000\end{array}$ $\begin{array}{llr} \text { Net sales } &&\$400,000\\ \text {Cost of goods sold } &&250,000\\ \text { Gross profit} &&150,000\\ \text { Expenses} &\\ \text { Operating expenses } &\$42,000\\ \text { Interest expense } &18,000\\ \text { Total expenses } &&60,000\\ \text {Income before income taxes } &&90,000\\ \text { Income tax expense} &&27,000\\ \text { Net income.} &&\$63,000\\\end{array}$

Additional information:
a. Cash dividends of $\$ 23,000$ were declared and paid in 2017 .
b. Weighted-average number of shares of common stock outstanding during 2017 was 30,000 shares.
c. Market value of common stock on December 31, 2017, was $\$ 21$ per share. Instructions
Using the financial statements and additional information compute the following ratios for Hainz Company for 2017. Show all computations.
Computations
1. Current ratio _________.
2. Return on common stockholders' equity _________.
3. Price-earnings ratio _________.
4. Acid-test ratio _________.
5. Accounts receivable turnover _________.
6. Times interest earned _________.
7. Profit margin _________.
8. Days in inventory _________.
9. Payout ratio _________.
10. Return on assets _________.