Nineteen Measures of Solvency and Profitability

The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $62 on December 31, 2016.

Blige Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 2016 and 2015
			2016		2015
Retained earnings, January 1			$2,822,400		$2,389,100
Add net income for year			651,200		489,300
Total			$3,473,600		$2,878,400
Deduct dividends
	On preferred stock		$8,400		$8,400
	On common stock		47,600		47,600
		Total	$56,000		$56,000
Retained earnings, December 31			$3,417,600		$2,822,400

Blige Inc.
Comparative Income Statement
For the Years Ended December 31, 2016 and 2015
	2016		2015
Sales	$3,895,680		$3,584,000
Sales returns and allowances	19,380		12,600
Sales	$3,876,300		$3,571,400
Cost of goods sold	1,403,060		1,290,820
Gross profit	$2,473,240		$2,280,580
Selling expenses	$836,910		$1,031,700
Administrative expenses	712,930		605,920
Total operating expenses	1,549,840		1,637,620
Income from operations	$923,400		$642,960
Other income	48,600		41,040
	$972,000		$684,000
Other expense (interest)	232,000		128,000
Income before income tax	$740,000		$556,000
Income tax expense	88,800		66,700
Net income	$651,200		$489,300

Blige Inc.
Comparative Balance Sheet
December 31, 2016 and 2015
			Dec. 31, 2016		Dec. 31, 2015
Assets
Current assets
	Cash		$639,200		$689,560
	Temporary investments		967,440		1,142,690
	Accounts receivable (net)		678,900		635,100
	Inventories		511,000		394,200
	Prepaid expenses		120,932		137,910
		Total current assets	$2,917,472		$2,999,460
Long-term investments			1,768,208		923,289
Property, plant, and equipment (net)			3,770,000		3,393,000
Total assets			$8,455,680		$7,315,749
Liabilities
Current liabilities			$858,080		$1,613,349
Long-term liabilities
	Mortgage note payable, 8%, due 2021		$1,300,000		$0
	Bonds payable, 8%, due 2017		1,600,000		1,600,000
		Total long-term liabilities	$2,900,000		$1,600,000
Total liabilities			$3,758,080		$3,213,349
Stockholders' Equity
Preferred $0.7 stock, $50 par			$600,000		$600,000
Common stock, $10 par			680,000		680,000
Retained earnings			3,417,600		2,822,400
	Total stockholders' equity		$4,697,600		$4,102,400
Total liabilities and stockholders' equity			$8,455,680		$7,315,749

Required:

Determine the following measures for 2016, rounding to one decimal place, except for 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	$fill in the blank 1
2. Current ratio	fill in the blank 2
3. Quick ratio	fill in the blank 3
4. Accounts receivable turnover	fill in the blank 4
5. Number of days' sales in receivables	fill in the blank 5	days
6. Inventory turnover	fill in the blank 6
7. Number of days' sales in inventory	fill in the blank 7	days
8. Ratio of fixed assets to long-term liabilities	fill in the blank 8
9. Ratio of liabilities to stockholders' equity	fill in the blank 9
10. Number of times interest charges are earned	fill in the blank 10
11. Number of times preferred dividends are earned	fill in the blank 11
12. Ratio of sales to assets	fill in the blank 12
13. Rate earned on total assets	fill in the blank 13	%
14. Rate earned on stockholders' equity	fill in the blank 14	%
15. Rate earned on common stockholders' equity	fill in the blank 15	%
16. Earnings per share on common stock	$fill in the blank 16
17. Price-earnings ratio	fill in the blank 17
18. Dividends per share of common stock	$fill in the blank 18
19. Dividend yield	fill in the blank 19	%