Twenty metrics of liquidity, Solvency, and Profitability The… Twenty metrics of liquidity, Solvency, and ProfitabilityThe comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $66 on December 31, 20Y8.AUTOMOTIVE SOLUTIONS INC.Comparative Income StatementFor the Years Ended December 31, 20Y8 and 20Y7?20Y8 ?20Y7Sales $2,657,200 $2,448,260 ?ost of goods sold (1,086,240) (999,340) ?ross profit $1,570,960 $1,448,920 ?elling expenses $(472,600) $(599,670) ?dministrative expenses (402,580) (352,180) ?otal operating expenses (875,180) (951,850) ?perating income $695,780 $497,070 ?ther revenue and expense: ??ther income 36,620 31,730 ??ther expense (interest) (176,000) (96,800) ?ncome before income tax $556,400 $432,000 ?ncome tax expense (66,800) (52,000) ?et income $489,600 $380,000 ?UTOMOTIVE SOLUTIONS INC.Comparative Statement of Stockholders’ EquityFor the Years Ended December 31, 20Y8 and 20Y7?20Y8 20Y7?PreferredStock CommonStock RetainedEarnings PreferredStock CommonStock RetainedEarningsBalances, Jan. 1 $450,000 $510,000 $2,208,550 $450,000 $510,000 $1,855,250 ?et income 489,600 380,000 ?ividends: ??referred stock (6,300) (6,300) ??ommon stock (20,400) (20,400) ?alances, Dec. 31 $450,000 $510,000 $2,671,450 $450,000 $510,000 $2,208,550 ?UTOMOTIVE SOLUTIONS INC.Comparative Balance SheetDecember 31, 20Y8 and 20Y7?Dec. 31, 20Y8 ?Dec. 31, 20Y7Assets ?urrent assets: ?ash $546,770 $517,560 ?emporary investments 827,540 857,670 ?ccounts receivable (net) 525,600 496,400 ?nventories 394,200 306,600 ?repaid expenses 103,434 103,510 ?otal current assets $2,397,544 $2,281,740 ?ong-term investments 1,719,066 1,105,468 ?roperty, plant, and equipment (net) 2,420,000 2,178,000 ?otal assets $6,536,610 $5,565,208 ?iabilitiesCurrent liabilities $705,160 $1,186,658 ?ong-term liabilities: ?ortgage note payable, 8%, due in 15 years $990,000 $0 ?onds payable, 8%, due in 20 years 1,210,000 1,210,000 ?otal long-term liabilities $2,200,000 $1,210,000 ?otal liabilities $2,905,160 $2,396,658 ?tockholders’ Equity ?referred $0.70 stock, $50 par $450,000 $450,000 ?ommon stock, $10 par 510,000 510,000 ?etained earnings 2,671,450 2,208,550 ?otal stockholders’ equity $3,631,450 $3,168,550 ?otal liabilities and stockholders’ equity $6,536,610 $5,565,208 ?nstructions: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?.?Current ratio fill in the blank 2?.?Quick ratio fill in the blank 3?.?Accounts receivable turnover fill in the blank 4?.?Days’ sales in receivables fill in the blank 5days6.?Inventory turnover fill in the blank 6?.?Days’ sales in inventory fill in the blank 7days8.?ebt ratio fill in the blank 8%9.?Ratio of liabilities to stockholders’ equity fill in the blank 9?0.?Ratio of fixed assets to long-term liabilities fill in the blank 101.1?1.?Times interest earned fill in the blank 11times12.?Times preferred dividends earned fill in the blank 12times13.?Asset turnover fill in the blank 13?4.?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?8.?Price-earnings ratio fill in the blank 18?9.?Dividends per share of common stock $fill in the blank 19?0.?Dividend yield fill in the blank 20%AccountingBusinessFinancial AccountingACC 201
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