Measures of liquidity, Solvency, and Profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 2012 Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $5,375,000 $4,545,000 Net income 900,000 925,000 Total $6,275,000 $5,470,000 Dividends: Preferred stock dividends $45,000 $45,000 Common stock dividends Total dividends 50,000 $95,000 50,000 $95,000 Retained earnings, December 31 $6,180,000 $5,375,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2011 Check My Work 5 more Check My Work uses remaining X Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 2012 20Y1 Sales Cost of goods sold Gross profit $10,000,000 5,350,000 $4,650,000 $2,000,000 1,500,000 $9,400,000 4,950,000 $4,450,000 $1,880,000 1,410,000 Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue $3,500,000 $3,290,000 $1,160,000 $1,150,000 150,000 $1,300,000 140,000 $1,300,000 Other expense (interest) 170,000 150,000 Income before income tax $1,130,000 $1,150,000 225,000 Income tax expense 230,000 Net income $900,000 $925,000 Stargel Inc. Comparative Balance Sheet December 31, 2012 and 2041 20Y2 2011 Assets Current assets: Cash $400,000 1,000,000 $500,000 1,010,000 740,000 1,190,000 250,000 Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets 510,000 950,000 229,000 $3,690,000 $3,089,000 Long-term investments 2,350,000 Property, plant, and equipment (net) 3,740,000 2,300,000 3,366,000 $8,755,000 Total assets $9,780,000 Liabilities Current liabilities $900,000 $880,000 Long-term liabilities: Mortgage note payable, 10% $200,000 $0 1,500,000 1,500,000 $1,700,000 $2,600,000 $1,500,000 $2,380,000 Bonds payable, 10% Total long-term liabilities Total liabilities Stockholders' Equity Preferred $0.90 stock. $10 par Common stock, $5 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $500,000 500,000 $500,000 500,000 5,375,000 6,180,000 $7,180,000 $9,780,000 $6,375,000 $8,755,000 Required: Determine the following measures for 2012, rounding to one decimal place, except dollar amounts which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of day sales in recevabile days 6. ventory tumo Previou Check My Workmore Chew Work Op Old 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables days 6. Inventory turnover 7. Number of days' sales in inventory days 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover 12. Return on total assets % 13. Return on stockholders' equity % 14. Return on common stockholders' equity % 15. Earnings per share on common stock 16. Price-earings ratio 17. Dividends per share of common stock $ 90 18. Dividend yield Check My Work 5 more Check Ny Work uses remaining