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(Financial ratios) The balance sheet and income statement for the R& H Mfg. Company are as follows:
R& H Mfg., Inc. Balance Sheet ($000)
Cash
$500
Accounts receivable
2,000
Inventories
1,000
Current assets
3,500
Net fixed assets
4,500
Total assets
$8,000
Accounts payable
$1,100
Accrued expenses
600
Short-term notes payable
300
Current liabilities
$2,000
Long-term debt
2,000
Owners’ equity
4,000
Total liabilities and owners’ equity
$8,000
R& H Mfg., Inc. Income Statement ($000)
Net sales (all credit)
$8,000
Cost of goods sold
-3,300
Gross profit
$4,700
Operating expenses (includes $500 depreciation)
-3,000
Net operating income
$1,700
Interest expense
-367
Earnings before taxes
$1,333
Income taxes (40%)
-533
Net income
$  800
Calculate the following ratios:
Current ratio
 Times interest earned
Inventory turnover
Total asset turnover
profit margin
return on assets
Debt ratio
Average collection period
Fixed asset turnover
 
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