The following data are taken from the financial statements of Edington Company.
Accounts payable $ 28,000
Net sales 500,000
Accounts receivable 65,000
Other current liabilities 20,000
Average common shares out. 20,000
Salaries and wages payable 7,000
Cash 56,000
Stockholders’ equity 135,000
Gross profit 190,000
Total assets 300,000
Net income 50,000
Instructions
Compute the following:
(a) Current ratio. (c) Earnings per share.
(b) Working capital. (d) Debt to assets ratio