Ratios Compared with Industry Averages Avery Instrument, Inc., is a manufacturer of various measuring and controlling instruments. Financial statement data for the firm are as follows:

	2013 (Thousands of Dollars, Except Earnings per Share)
Sales revenue	$294,000
Cost of goods sold	175,000
Net income	8,300
Dividends	3,640
Earnings per share	4.15

AVERY INSTRUMENTS, INC. Balance Sheets (Thousands of Dollars)
	Dec. 31, 2013	Dec. 31, 2012
Assets
Cash	$25,620	$18,000
Accounts receivable (net)	64,400	41,000
Inventory	55,300	43,700
Total Current Assets	103,800	102,700
Plant assets (net)	52,600	50,500
Other assets	15,600	13,800
Total Assets	$172,000	$167,000
Liabilities and Stockholders' Equity
Notes payable-banks	$8,400	$6,000
Accounts payable	31,500	18,700
Accrued liabilities	23,100	21,000
Total Current Liabilities	45,000	45,700
9% Bonds payable	40,000	40,000
Total Liabilities	85,000	85,700
Common stock, $25 par value (2,000,000 shares)	50,000	50,000
Retained earnings	37,000	31,300
Total Stockholders' Equity	87,000	81,300
Total Liabilities and Stockholders' Equity	$172,000	$167,000

Required a. Using the given data, calculate items 1 through 8 below for 2013 for Avery Instruments, Inc. Round to two decimal points.

	Median Ratios for Manufacturers of Measuring and Controlling Instruments		Ratios for Packard Plastics
1. Quick ratio:	1.2		____?
2. Current ratio:	2.4		_____?
3. Accounts Receivable Turnover:	5.9		______?
4. Inventory turnover:	3.5		_____?
5. Debt-to-equity ratio:	0.73		_____?
6. Gross profit percentage	42.8	%	_____?	%
7. Return on sales	4.5	%	_____?	%
8. Return on assets:	7.6	%	______?	%

b. Calculate the dividends paid per share of common stock. $______? What was the dividend payout ratio? _____?% c. If the most recent price per share of common stock is $64.25, what is the price-earnings ratio? ______? The dividend yield? _____?%