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Condensed balance sheet and income statement data for Kersenbrock Corporation appear below. KERSENBROCK CORPORATION Balance Sheets December 312007 $ 18,000 48,000 64,000 45,000 Plant and equipment (net) 400,000370,000358,000$640,000$600,000$533,000$ 70,000 50,000 300,000 Retained earnings 145,000125,000113,000$640,000$600,000$533,000 KERSENBROCK CORPORATION Income Statement For the Year Ended December 312008 $700,000 Less: Sales returns and allowances 40,00050,000650,000 Cost of goods sold 420,000400,000250,000 Operating expenses (including income taxes) 235,000220,000 Net income $ 45,000$ 30,000Additional information: The market price of Kersenbrock’s common stock was $4.00, $5.00, and $8.00 for 2007, 2008, and 2009, respectively. All dividends were paid in cash. InstructionsCompute the following ratios for 2008 and 2009. (Weighted-average-common shares in 2009 were 32,000 and in 2008 were 31,000.) (Round earnings per share to 2 decimal places, e.g. 10.50. Round other answers to 1 decimal place, e.g. 10.5.)2008 2009 (1) Profit margin % % (2) Asset turnover times times (3) Earnings per share $ $ (4) Price-earnings times times (5) Payout % % (6) Debt to total assets % %
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