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The following selected information relates to Candle Company for the past two years. Prior year Account Net sales (all credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long-term assets Total current liabilities Total long-term liabilities Common stock, no par, 2,500 shares, market value $96 per share Retained earnings Current year $237,250 $115,000 $122,250 $32,000 $2000 $22,000 $22,000 $25,000 $56,000 $2,000 $105,000 $150,000 $60,000 $22,000 $180,000 $110,000 $70,000 $30,000 $7,000 $18,000 $14,000 $31,000 $44,000 $1,000 $90,000 $175,000 $90,000 $78,000 $40,000 $133,000 $40,000 $57,000 What is the rate of return on total assets for the current year? A) 9.23% B) 18.82% C) 8.46% D) 18.11%
The following information relates to Contessa Corporation. Account Net sales (all credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long-term assets Total current liabilities Total long-term liabilities Common stock, no par, 4,990 shares, value $50/share Current year $529,250 $379,575 $149,675 $95,500 $23,500 $57,385 $26,000 $33,800 $42,000 $2,000 $103,800 $62,000 $46,000 $20,000 Prior year $499,500 $353,600 $145,900 $ 79,900 $19,500 $51,600 $15,900 $23,340 $30,300 $1,500 $72,040 $38,000 $41,600 $22,700 $30,000 $30,000 Required: a. What is the acid-test ratio for the current year? b. What is the inventory turnover for the current year? c. What is days' sales in receivables for the current year? d. What is the book value per share of common stock for the current year? e. What is the price-earnings ratio for the current year? f. What is the rate of return on total assets for the current year? 9. What is the times-interest-earned ratio for the current year? h. What is the current ratio for the current year?