Question

20. Brigman Inc. has the following financial statementinformation for 2009 and 2008:

Balance Sheet Information:	2009		2008
Assets:
Cash	$ 5,000		$ 12,000
Accounts receivable	14,000		10,000
Inventory	35,000		30,000
Total current assets	$ 54,000		$ 52,000
Property and Equipment (net)	50,000		45,000
Total assets	$104,000		$ 97,000
Liabilities:
Accounts payable	$ 9,000		$ 3,000
Salaries payable	3,000		1,000
Total current liabilities	$ 12,000		$ 4,000
Notes payable	20,000		25,000
Total liabilities	$ 32,000		$ 29,000
Stockholders' Equity:
Common stock	$ 40,000		$ 40,000
Retained earnings	32,000		28,000
Total stockholders' equity	$ 72,000		$ 68,000
Total liabilities and stockholders' equity	$104,000		$ 97,000
Income Statement Information:
Net sales	$650,000		$556,000
Cost of goods sold	380,000		290,000
Gross profit	$270,000		$266,000
Selling and administrative expenses	75,000		70,000
Interest expense	4,000		10,000
Income before income taxes	$191,000		$186,000
Income tax expense	57,300		56,300
Net income	$133,700		$129,700
Other Information:
Number of common shares outstanding	4,000		4,000
Dividends paid	$ 0		$ 0
Market price per share (12/31)	$40		$30
Income tax rate	30%		30.27%

Required: Compute the following ratios for the year endingDecember 31, 2009: (round to two decimal places)

A.	Inventory turnover
B.	Return on assets (ROA) ratio
C.	Asset turnover ratio
D.	Earnings per share (EPS)
E.	Price earnings (P/E) ratio.

F. Return on common stockholders’ equity

G. Current ratio

H. Quick ratio

I. Debt-to-equity ratio