Selected year-end financial statements of Overland Corporation follow.
Selected year-end financial statements of Overland Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2010, were inventory, $16,400; total assets, $95,900; common stock, $41,500; and retained earnings, $19,800.)OVERLAND CORPORATIONIncome StatementFor Year Ended December 31,2011Sales $215,500Cost of goods sold 136,100Gross profit 79,400Operating expenses 50,200Interest expense 1,200Income before taxes 28,000Income taxes 2,200Net income $ 25,800OVERLAND CORPORATIONBalance SheetDecember 31, 2011AssetsLiabilities and EquityCash $5,100Accounts payable $10,500Short-term investments5,900Accrued wages payable 2,300Accounts receivable, net11,100Income taxes payable 1,600Notes receivable (trade)*2,000Long-term note payable, securedMerchandise inventory 12,500by mortgage on plant assets25,000Prepaid expenses 1,000Common stock, $5 par value41,000Plant assets, net 72,900Retained earnings $30,100Total assets $110,500Total liabilities and equity $110,500RequiredCompute the following: (1) current ratio, (2) acid-test ratio, (3) days’ sales uncollected, (4) inventory turnover, (5) days’ sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders’ equity.