The Following Data Are Taken from the Financial Statements of Edington

Essay

The following data are taken from the financial statements of Edington Company. The data are in alphabetical order. $\begin{array}{lrlr}\text { Accounts payable } & \$ 28,000 & \text { Net sales } & 500,000 \\\text { Accounts receivable } & 65,000 & \text { Other current liabilities } & 20,000 \\\text { Average common shares out. } & 20,000 & \text { Salaries and wages payable } & 7,000 \\\text { Cash } & 56,000 & \text { Stockholders' equity } & 135,000 \\\text { Gross profit } & 190,000 & \text { Total assets } & 300,000\\\text { Net income } \quad 50,000\end{array}$ Instructions
Compute the following:
(a) Current ratio. (c) Earnings per share.
(b) Working capital. (d) Debt to assets ratio.