Your answer is partially correct. Try again.The comparative statements of Osborne Company are presen

Your answer is partially correct. Try again.The comparative statements of Osborne Company are presented here.OSBORNE COMPANYIncome StatementsFor the Years Ended December 312014Net salesCost of goods soldGross profitSelling and administrative expensesIncome from operations2013$1,897,8701,065,870832,000507,330324,670$1,757,8301,013,330744,500486,330258,17023,856300,81421,856236,314Income tax expenseNet income93,856$ 206,95874,856$ 161,458OSBORNE COMPANYBalance SheetsDecember 31Assets2014Other expenses and lossesInterest expenseIncome before income taxes2013Current assetsCashDebt investments (short-term)Accounts receivableInventoryTotal current assetsPlant assets (net)Total assets$ 60,10074,000125,130127,856387,086660,051$1,047,137$ 64,20050,000110,130117,356341,686531,351$873,037$ 167,33045,356212,686231,051443,737$152,73043,856196,586211,051407,637290,000313,400603,400$1,047,137300,000165,400465,400$873,037Liabilities and Stockholders’ EquityCurrent liabilitiesAccounts payableIncome taxes payableTotal current liabilitiesBonds payableTotal liabilitiesStockholders’ equityCommon stock ($5 par)Retained earningsTotal stockholders’ equityTotal liabilities and stockholders’ equityAll sales were on account. Net cash provided by operating activities for 2014 was $230,280. Capitalexpenditures were $136,300, and cash dividends were $58,958.Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or12.61%.)$(a)Earnings per share(b)Return on common stockholders’ equity36.13%(c)Return on assets21.23%(d)Current ratio1.83:1(e)Accounts receivable turnover17.14times(f)Average collection period21.30days(g)Inventory turnover15.00times(h)Days in inventory24.33days(i)Times interest earned15.09times(j)Asset turnover1.84times(k)Debt to assets41.24%(l)Current cash debt coverage1.13times0.68times3.76(m) Cash debt coverage(n)Free cash flow$84000.00

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