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Financial statements for Baird Company follow. BAIRD COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash $ 17,000 $ 13,000 Marketable

Financial statements for Baird Company follow.

BAIRD COMPANY
Balance Sheets
As of December 31
20192018
Assets
Current assets
Cash$17,000$13,000
Marketable securities20,2006,200
Accounts receivable (net)43,00035,000
Inventories128,000136,000
Prepaid items27,00012,000
Total current assets235,200202,200
Investments32,00025,000
Plant (net)265,000250,000
Land28,00023,000
Total assets$560,200$500,200
Liabilities and Stockholders’ Equity
Liabilities
Current liabilities
Notes payable$18,800$12,500
Accounts payable113,800100,000
Salaries payable23,00017,000
Total current liabilities155,600129,500
Noncurrent liabilities
Bonds payable120,000120,000
Other26,00021,000
Total noncurrent liabilities146,000141,000
Total liabilities301,600270,500
Stockholders’ equity
Preferred stock, (par value $10, 4% cumulative, non-participating; 7,000 shares authorized and issued)70,00070,000
Common stock (no par; 50,000 shares authorized; 10,000 shares issued)70,00070,000
Retained earnings118,60089,700
Total stockholders’ equity258,600229,700
Total liabilities and stockholders’ equity$560,200$500,200

BAIRD COMPANY
Statements of Income and Retained Earnings
For the Years Ended December 31
20192018
Revenues
Sales (net)$250,000$230,000
Other revenues8,4005,400
Total revenues258,400235,400
Expenses
Cost of goods sold125,000109,000
Selling, general, and administrative57,00052,000
Interest expense8,6007,800
Income tax expense33,00032,000
Total expenses223,600200,800
Net earnings (net income)34,80034,600
Retained earnings, January 189,70061,000
Less: Preferred stock dividends2,8002,800
Common stock dividends3,1003,100
Retained earnings, December 31$118,600$89,700

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.

  1. Working capital.
  2. Current ratio. (Round your answers to 2 decimal places.)
  3. Quick ratio. (Round your answers to 2 decimal places.)
  4. Receivables turnover (beginning receivables at January 1, 2018, were $36,000). (Round your answers to 2 decimal places.)
  5. Average days to collect accounts receivable. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)
  6. Inventory turnover (beginning inventory at January 1, 2018, was $142,000). (Round your answers to 2 decimal places.)
  7. Number of days to sell inventory. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)
  8. Debt to assets ratio. (Round your answers to the nearest whole percent.)
  9. Debt to equity ratio. (Round your answers to 2 decimal places.)
  10. Number of times interest was earned. (Round your answers to 2 decimal places.)
  11. Plant assets to long-term debt. (Round your answers to 2 decimal places.)
  12. Net margin. (Round your answers to 2 decimal places.)
  13. Turnover of assets. (Round your answers to 2 decimal places.)
  14. Return on investment. (Round your answers to 2 decimal places.)
  15. Return on equity. (Round your answers to 2 decimal places.)
  16. Earnings per share. (Round your answers to 2 decimal places.)
  17. Book value per share of common stock. (Round your answers to 2 decimal places.)
  18. Price-earnings ratio (market price per share: 2018, $11.85; 2019, $12.70). (Round your intermediate calculations and final answer to 2 decimal places.)
  19. Dividend yield on common stock. (Round your answers to 2 decimal places.)

20192018
a.Working capital
b.Current ratio
c.Quick ratio
d.Receivables turnovertimestimes
e.Average days to collect accounts receivabledaysdays
f.Inventory turnovertimestimes
g.Average days to sell inventorydaysdays
h.Debt to assets ratio%%
i.Debt to equity ratio
j.Number of times interest earnedtimestimes
k.Plant assets to long-term debt
l.Net margin%%
m.Asset turnover
n.Return on investment%%
o.Return on equity%%
p.Earnings per shareper shareper share
q.Book value per shareper shareper share
r.Price-earnings ratio
s.Dividend yield%%

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