E15-8 Selected comparative statement data for Willingham Products Company

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E15-8 Selected comparative statement data for Willingham Products Company. All balance sheet data are as of December 31.

			2009	2008
Net sales			760,000	720,000
Cost of goods sold			480,000	440,000
Interest expense			7,000	5,000
Net income			50,000	42,000
Accounts receivable			120,000	100,000
Inventory			85,000	75,000
Total assets			580,000	500,000
Total common stockholders' equity			430,000	325,000

Instructions

Compute the following ratios for 2009.
(a) Profit margin.
(b) Asset turnover.
(c) Return on assets.
(d) Return on common stockholders’ equity.