The balance sheet for Schultz Bone Company at December 31, 2009 had the following account balances:
|
Total current liabilities (non interest bearing) |
$450,000 |
|
Bonds payable, 6% (issued in 1982; due in 2013) |
750,000 |
|
Preferred stock, 5%, $100 par |
300,000 |
|
Common stock, $10 par |
750,000 |
|
Premium on common stock |
150,000 |
|
Retained earnings |
600,000 |
Income before income tax was $200,000, and income taxes were $80,000 for the current year.
Required Calculate each of the following:
a. Return on assets (using ending assets)
b. Return on total equity (using ending total equity)
c. Return on common equity (using ending common equity)
d. Times interest earned