The comparative statements of Painter Tool Company are presented below

All sales were on account.

Instructions

Compute the following ratios for 2020. (Weighted-average common shares in 2020 were 57,000.)

1. Earnings per share
2. Return on common stockholder' equity
3. Return on assets
4. Current ratio
5. Acid-test ratio
6. Accounts receivable turnover
7. Inventory turnover
8. Times interest earned
9. Asset turnover.
10. Debt to assets ratio

Solution