The Financial Statements of Grogan Company Appear Below

The financial statements of Grogan Company appear below:

Additional information:
a. Cash dividends of $23,000 were declared and paid in 2011.
b. Weighted-average number of shares of common stock outstanding during 2011 was 30,000 shares.
c. Market value of common stock on December 31, 2011, was $21 per share.
Instructions
Using the financial statements and additional information, compute the following ratios for Grogan Company for 2011. Show all computations.
Computations
1. Current ratio _________.
2. Return on common stockholders' equity _________.
3. Price-earnings ratio _________.
4. Acid-test ratio _________.
5. Receivables turnover _________.
6. Times interest earned _________.
7. Profit margin _________.
8. Days in inventory _________.
9. Payout ratio _________.
10. Return on assets _________.
a. Cash dividends of $23,000 were declared and paid in 2011.
b. Weighted-average number of shares of common stock outstanding during 2011 was 30,000 shares.
c. Market value of common stock on December 31, 2011, was $21 per share.
Instructions
Using the financial statements and additional information, compute the following ratios for Grogan Company for 2011. Show all computations.
Computations