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MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 ASSETS Cash S Accounts receivable Inventory...

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MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 ASSETS Cash S Accounts receivable Inventory Net plant and equipment Total assets 50,000 70,000 110,000 220,000 450,000 $ $ LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Paid-in capital Retained earnings Total liabilities and stockholders' equity 70,000 50,000 130,000 70,000 40,000 90,000 S 450,000 875,000 600,000 275,000 MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 Sales (all on credit) S Cost of goods sold Gross profit S Sales and administrative expenses Depreciation Operating profit S Interest expense Profit before taxes Taxes (30%) Net income 30,000 55,000 190.000 25,000 165,000 49,500 119,500 S $ Calculate the following ratios: 1. Debt Ratio 2. Total Asset Turnover 3. Average Collection Period 4. Price to Earnings ratio if the Market Price is $110 USD today and number of shares issues are 500,000. 5. Operating Return on Assets

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