The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
2014
2013
Sales revenue
$3,800
$3,460
Costs and expenses
Cost of goods sold
970
890
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,380
3,240
Income before income taxes
420
220
Income tax expense
168
88
Net income
$ 252
$ 132
Compute the following ratios for 2014 and 2013.
Current ratio.
Inventory turnover. (Inventory on December 31, 2012, was $340.)
Profit margin.
Return on assets. (Assets on December 31, 2012, were $1,900.)
Return on common stockholders
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