Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:

WIPER INC.
Condensed Balance Sheets
December 31, 2020, 2019, 2018
(in millions)
	2020			2019			2018
Current assets	$	798		$	1,031		$	893
Other assets		2,429			1,936			1,735
Total assets	$	3,227		$	2,967		$	2,628
Current liabilities	$	593		$	846		$	748
Long-term liabilities		1,611			1,079			946
Stockholders equity		1,023			1,042			934
Total liabilities and stockholders' equity	$	3,227		$	2,967		$	2,628

WIPER INC.
Selected Income Statement and Other Data
For the year Ended December 31, 2020 and 2019
(in millions)
	2020			2019
Income statement data:
Sales	$	3,066		$	2,929
Operating income		312			326
Interest expense		100			81
Net income		239			234
Other data:
Average number of common shares outstanding		42.9			48.3
Total dividends paid	$	66.0		$	53.9

1. If Wiper's stock had a price/earnings ratio of 12 at the end of 2020, what was the market price of the stock?
2. Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part e.
3. Calculate the dividend payout ratio for 2020.
4. Assume that accounts receivable at December 31, 2020, totaled $325 million. Calculate the number of days' sales in receivables at that date.
5. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019.
6. Calculate the times interest earned ratio for 2020 and 2019.