Current assets	$	749		$	969		$	823
Other assets		2,422			1,929			1,728
Total assets	$	3,171		$	2,898		$	2,551
Current liabilities	$	586		$	839		$	732
Long-term liabilities		1,569			1,024			892
Stockholders equity		1,016			1,035			927
Total liabilities and stockholders' equity	$	3,171		$	2,898		$	2,551

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	$	3,059		$	2,922
Operating income		305			319
Interest expense		93			74
Net income		218			213
Other data:
Average number of common shares outstanding		42.2			47.6
Total dividends paid	$	59.0		$	53.2

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 14 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 $318 million. Calculate the number of days' sales in receivables at that date.
9. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019.
10. Calculate the times interest earned ratio for 2020 and 2019.