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Twenty metrics of liquidity, Solvency, and Profitability

The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $60 on December 31, 20Y8.

AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7
	20Y8		20Y7
Sales	$1,841,060		$1,696,210
Cost of goods sold	(719,780)		(662,200)
Gross profit	$1,121,280		$1,034,010
Selling expenses	$(341,150)		$(426,150)
Administrative expenses	(290,600)		(250,280)
Total operating expenses	(631,750)		(676,430)
Operating income	$489,530		$357,580
Other revenue and expense:
Other income	25,770		22,820
Other expense (interest)	(128,000)		(70,400)
Income before income tax	$387,300		$310,000
Income tax expense	(46,500)		(37,300)
Net income	$340,800		$272,700

AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders Equity For the Years Ended December 31, 20Y8 and 20Y7
	20Y8									20Y7
	Preferred Stock			Common Stock			Retained Earnings			Preferred Stock			Common Stock			Retained Earnings
Balances, Jan. 1		$320,000			$360,000			$1,567,700			$320,000			$360,000			$1,331,200
Net income								340,800									272,700
Dividends:
Preferred stock								(5,600)									(5,600)
Common stock								(30,600)									(30,600)
Balances, Dec. 31		$320,000			$360,000			$1,872,300			$320,000			$360,000			$1,567,700

AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7
	Dec. 31, 20Y8		Dec. 31, 20Y7
Assets
Current assets:
Cash	$318,150		$367,150
Temporary investments	481,520		608,410
Accounts receivable (net)	365,000		343,100
Inventories	277,400		219,000
Prepaid expenses	60,186		73,430
Total current assets	$1,502,256		$1,611,090
Long-term investments	1,331,884		734,406
Property, plant, and equipment (net)	1,760,000		1,584,000
Total assets	$4,594,140		$3,929,496
Liabilities
Current liabilities	$441,840		$801,796
Long-term liabilities:
Mortgage note payable, 8%, due in 15 years	$720,000		$0
Bonds payable, 8%, due in 20 years	880,000		880,000
Total long-term liabilities	$1,600,000		$880,000
Total liabilities	$2,041,840		$1,681,796
Stockholders' Equity
Preferred $0.70 stock, $40 par	$320,000		$320,000
Common stock, $10 par	360,000		360,000
Retained earnings	1,872,300		1,567,700
Total stockholders' equity	$2,552,300		$2,247,700
Total liabilities and stockholders' equity	$4,594,140		$3,929,496

Instructions:

Determine the following measures for 20Y8. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are 365 days in the year.

1. Working capital	$fill in the blank 1
2. Current ratio	fill in the blank 2
3. Quick ratio	fill in the blank 3
4. Accounts receivable turnover	fill in the blank 4
5. Days' sales in receivables	fill in the blank 5	days
6. Inventory turnover	fill in the blank 6
7. Days' sales in inventory	fill in the blank 7	days
8. Debt ratio	fill in the blank 8	%
9. Ratio of liabilities to stockholders' equity	fill in the blank 9
10. Ratio of fixed assets to long-term liabilities	fill in the blank 10
11. Times interest earned	fill in the blank 11	times
12. Times preferred dividends earned	fill in the blank 12	times
13. Asset turnover	fill in the blank 13
14. Return on total assets	fill in the blank 14	%
15. Return on stockholders equity	fill in the blank 15	%
16. Return on common stockholders equity	fill in the blank 16	%
17. Earnings per share on common stock	$fill in the blank 17
18. Price-earnings ratio	fill in the blank 18
19. Dividends per share of common stock	$fill in the blank 19
20. Dividend yield	fill in the blank 20	%

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