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Assets Current assets Cash $ 21,000 $ 17,000 Marketable securities 21,000 7,000 Accounts receivable (net) 51,000 43,000 Inventories 136,000 144,000 Prepaid items 25,000 10,000 Total

Assets
Current assets
Cash $ 21,000 $ 17,000
Marketable securities 21,000 7,000
Accounts receivable (net) 51,000 43,000
Inventories 136,000 144,000
Prepaid items 25,000 10,000
Total current assets 254,000 221,000
Investments 22,000 15,000
Plant (net) 260,000 245,000
Land 28,000 23,000
Total assets $ 564,000 $ 504,000
Liabilities and Stockholders Equity
Liabilities
Current liabilities
Notes payable $ 24,600 $ 8,300
Accounts payable 58,800 45,000
Salaries payable 25,000 19,000
Total current liabilities 108,400 72,300
Noncurrent liabilities
Bonds payable 140,000 140,000
Other 25,000 20,000
Total noncurrent liabilities 165,000 160,000
Total liabilities 273,400 232,300
Stockholders equity
Preferred stock, (par value $10, 4% cumulative, non-participating; 8,000 shares authorized and issued) 80,000 80,000
Common stock (no par; 50,000 shares authorized; 10,000 shares issued) 80,000 80,000
Retained earnings 130,600 111,700
Total stockholders equity 290,600 271,700
Total liabilities and stockholders equity $ 564,000 $ 504,000

MUNOZ COMPANY
Statements of Income and Retained Earnings For the Years Ended December 31
2019 2018
Revenues
Sales (net) $ 330,000 $ 310,000
Other revenues 10,000 7,000
Total revenues 340,000 317,000
Expenses
Cost of goods sold 165,000 133,000
Selling, general, and administrative 65,000 60,000
Interest expense 11,000 10,200
Income tax expense 73,000 72,000
Total expenses 314,000 275,200
Net earnings (net income) 26,000 41,800
Retained earnings, January 1 111,700 77,000
Less: Preferred stock dividends 3,200 3,200
Common stock dividends 3,900 3,900
Retained earnings, December 31 $ 130,600 $ 111,700

Required

Calculate the following ratios for 2019 and 2018. Since 2017 numbers are not presented, do not use averages when calculating the ratios for 2018. Instead, use the number presented on the 2018 balance sheet.

Working capital.

Current ratio. (Round your answers to 2 decimal places.)

Quick ratio. (Round your answers to 2 decimal places.)

Receivables turnover (beginning receivables at January 1, 2018, were $44,000). (Round your answers to 2 decimal places.)

Average days to collect accounts receivable. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)

Inventory turnover (beginning inventory at January 1, 2018, was $150,000). (Round your answers to 2 decimal places.)

Number of days to sell inventory. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)

Debt to assets ratio. (Round your answers to the nearest whole percent.)

Debt to equity ratio. (Round your answers to 2 decimal places.)

Number of times interest was earned. (Round your answers to 2 decimal places.)

Plant assets to long-term debt. (Round your answers to 2 decimal places.)

Net margin. (Round your answers to 2 decimal places.)

Turnover of assets. (Round your answers to 2 decimal places.)

Return on investment. (Round your answers to 2 decimal places.)

Return on equity. (Round your answers to 2 decimal places.)

Earnings per share. (Round your answers to 2 decimal places.)

Book value per share of common stock. (Round your answers to 2 decimal places.)

Price-earnings ratio (market price per share: 2018, $12.25; 2019, $13.50). (Round your intermediate calculations and final answer to 2 decimal places.)

Dividend yield on common stock. (Round your answers to 2 decimal places.)

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