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

Required:

1. Calculate return on investment, based on net income and average total assets, for 2020 and 2019.
2. Calculate return on equity for 2020 and 2019.
3. Calculate working capital and the current ratio for each of the past three years.
4. Calculate earnings per share for 2020 and 2019.
5. If Wiper's stock had a price/earnings ratio of 12 at the end of 2020, what was the market price of the stock?
6. Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part e.
7. Calculate the dividend payout ratio for 2020.
8. Assume that accounts receivable at December 31, 2020, totaled $325 million. Calculate the number of days' sales in receivables at that date.

a. Calculate return on investment, based on net income and average total assets, for 2020 and 2019. (Do not round intermediate calculations. Round your answers to 1 decimal place.) b. Calculate return on equity for 2020 and 2019. (Round your answers to 1 decimal place.)

c.Calculate working capital and the current ratio for each of the past three years. (Enter your answers in millions (i.e., 5,000,000 should be entered as 5). Round "Current ratio" to 1 decimal place.)

d.Calculate earnings per share for 2020 and 2019. (Round your answers to 2 decimal places.)

e. If Wiper's stock had a price/earnings ratio of 12 at the end of 2020, what was the market price of the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.) f. Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part e. (Do not round intermediate calculations. Round your answers to 2 decimal places.) g. Calculate the dividend payout ratio for 2020. (Do not round intermediate calculations.) h. Assume that accounts receivable at December 31, 2020, totaled $325 million. Calculate the number of days' sales in receivables at that date. (Use 365 days a year. Do not round intermediate calculations.)

I.Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019. (Round "Debt ratio" to 1 decimal place and "Debt/equity ratio" to the nearest whole percent.)

j. Calculate the times interest earned ratio for 2020 and 2019. (Round your answers to 1 decimal place.)