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.

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17. Divide net income minus preferred dividends [Preferred stock par value x dividend per preferred share] by common shares outstanding (common stock par value).

1/15/23, 1:08 PM CengageNOWv2 | Online teaching and learning resource from Cengage Leaming Twenty metrics of liquidity, Solvency, and Profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $55 on December 31, 20Y8. AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 2018 and 20Y7 20Y8 20Y7 Sales $4,522,350 $4,166,700 Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income (1,492,120) (1,372,750) $3,030,230 $2,793,950 $(1,096,650) $(1,329,660) (934,180) (780,910) (2,030,830) (2,110,570) $999,400 $683,380 Other revenue and expense: Other income 52,600 43,620 Other expense (interest) (312,000) (172,000) Income before income tax $740,000 $555,000 Income tax expense Net income (88,800) (66,500) $651,200 $488,500 AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders' Equity For the Years Ended December 31, 2018 and 2017 20Y8 20Y7 Balances, Jan. 1 Preferred Common Retained Preferred Stock Stock Earnings Stock $600,000 $680,000 $2,820,700 $600,000 $680,000 Common Retained Stock Earnings $2,384,800 Net income 651,200 488,500 Dividends: Preferred stock Common stock Balances, Dec. 31 $600,000 (8,400) (44,200) (8,400) (44,200) $680,000 $3,419,300 $600,000 $680,000 $2,820,700 https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator-&inprogress=false 1/4