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Measures of liquidity, Solvency and Profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. Stargel Inc. Retained earnings, January 1 Net income Dividends: Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 On preferred stock. On common stock Increase in retained earnings Retained earnings, December 31 Sales Cost of goods sold Gross profit Selling expenses 20Y2 $5,375,000 $900,000 (45,000) (50,000) $805,000 $6,180,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 $10,000,000 (5,350,000) $4,650,000 $(2,000,000) 20Y1 $4,545,000 $925,000 (45,000) (50,000) $830,000 $5,375,000 20Y1 $9,400,000 (4,950,000) $4,450,000 $(1,880,000) Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net income Current assets: Cashi Marketable securities Accounts receivable (net) Inventories. Prepaid expenses Total current assets. Long-term investments. (1,500,000) $(3,500,000) $1,150,000 Assets 150,000 (170,000) $1,130,000 (230,000) $900,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 $500,000 1,010,000 740,000 1,190,000 250,000 $3,690,000 2,350,000 (1,410,000) $(3,290,000) $1,160,000 140,000 (150,000) $1,150,000 (225,000) $925,000 20Y1 $400,000 1,000,000 510,000 950,000 229,000 $3,089,000 2,300,000 Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities: Mortgage note payable, 10% Bonds payable, 10% Total long-term liabilities. Total liabilities Liabilities Stockholders' Equity Preferred $0.90 stock, $10 par Common stock, $5 par Retained earnings Total stockholders' equity. Total liabilities and stockholders' equity 3,740,000 $9,780,000 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables $900,000 $200,000 1,500,000 $1,700,000 $2,600,000 $500,000 500,000 6,180,000 $7,180,000 $9,780,000 3,366,000 $8,755,000 $880,000 1,500,000 $1,500,000 $2,380,000 $500,000 500,000 5,375,000 $6,375,000 $8,755,000 Required: Determine the following measures for 20Y2, rounding to one decimal place, except dollar amounts which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year. 1. Working capital 2,790,000 2. Current ratio 4.1 2.5 $0 22.8 16 days. 6. Inventory turnover 7. Number of days' sales in inventory. 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield Feedback Check My Work $ $ 5 73 days. 2.2 0.4 7.6 1.4 13.3 13.6 14 8.55 0.5 % % % 0.4 %