Measures of liquidity, Solvency, and ProfitabilityThe comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $$119\mathrm{.}70$ on December $31,20$Y$2.$Stargel Inc.Comparative Retained Earnings StatementFor the Years Ended December $31,20$Y$2$ and $20$Y$120$Y$220$Y$1$Retained earnings, January $1$$$5,375,000$$$4,545,000$Net income$900,000925,000$Total$$6,275,000$$$5,470,000$Dividends:Preferred stock dividends$$45,000$$$45,000$Common stock dividends$50,00050,000$Total dividends$$95,000$$$95,000$Retained earings, December $31$$$6,180,000$$$5,375,000$Stargel Inc.Comparative Income StatementFor the Years Ended December $31,20$Y$2$ and $20$Y$120$Y$220$Y$1$Sales$$10,000,000$$$9,400,000$Cost of goods sold$5,350,0004,950,000$Gross profit$$4,650,000$$$4,450,000$Selling expenses$$2,000,000$$$1,880,000$Administrative expenses$1,500,0001,410,000$Total operating expenses$$3,500,000$$$3,290,000$Income from operations$$1,150,000$$$1,160,000$Other revenue$150,000140,000$$$1,300,000$$$1,300,000$Other expense $($interest$)170,000150,000$Income before income tax$$1,130,000$$$1,150,000$Income tax expense$230,000225,000$Net income$$900,000$$$925,000$Stargel Inc.Comparative Balance SheetDecember $31,20$Y$2$ and $20$Y$120$Y$22011$AssetsCurrent assets:Cash$$500,000$$$400,000$Marketable securities$1,010,0001,000,000$Accounts receivable $($net$/$s$740,000510,000$Inventories$1,190,000950,000$Prepaid expenses$250,000229,000$Total current assets$$3,690,000$$$3,089,000$Long$-$term investments$2,350,0002,300,000$Property, plant, and equipment $($net$)3,740,0003,366,000$Total assets$$9,780,000$$$8,755,000$LiabilitiesCurrent liabilities$$900,000$$$880,000$Long$-$term liabilities:Mortgage note payable, $10\%$$$200,000$$$0$Bonds payable, $10\%1,500,0001,500,000$Total long$-$term liabilities$$1,700,000$$$1,500,000$Total liabilities$$2,600,000$$$2,380,000$Stockholders' EquityPreferred $$0\mathrm{.}90$ stock, $$10$ par$$500,000$$$500,000$Common stock, $$5$ par$500,000500,000$Retained earnings$6,180,0005,375,000$Total stockholders equity$$7,180,000$$$6,375,000$Total liabilities and stockholders' equity$$9,780,000$$$8,755,000$ Required:Determine the following measures for $20$Y$2,$ 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.