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 $55 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 $788,100 $672,200 Add net income for year 165,600 137,700 Total $953,700 $809,900 Deduct dividends On preferred stock $5,600 $5,600 On common stock 16,200 16,200 Total $21,800 $21,800 Retained earnings, December 31 $931,900 $788,100 Blige Inc. Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Sales $1,109,280 $1,020,500 Sales returns and allowances 5,520 3,590 Sales $1,103,760 $1,016,910 Cost of goods sold 416,100 382,810 Gross profit $687,660 $634,100 Selling expenses $229,650 $278,200 Administrative expenses 195,620 163,390 Total operating expenses 425,270 441,590 Income from operations $262,390 $192,510 Other income 13,810 12,290 $276,200 $204,800 Other expense (interest) 88,000 48,800 Income before income tax $188,200 $156,000 Income tax expense 22,600 18,300 Net income $165,600 $137,700 Blige Inc. Comparative Balance Sheet December 31, 2016 and 2015 Dec. 31, 2016 Dec. 31, 2015 Assets Current assets Cash $238,500 $156,700 Temporary investments 360,980 259,670 Accounts receivable (net) 211,700 197,100 Inventories 160,600 116,800 Prepaid expenses 45,126 31,340 Total current assets $1,016,906 $761,610 Long-term investments 334,084 -92,029 Property, plant, and equipment (net) 1,320,000 1,188,000 Total assets $2,670,990 $1,857,581 Liabilities Current liabilities $299,090 $119,481 Long-term liabilities Mortgage note payable, 8%, due 2021 $490,000 $0 Bonds payable, 8%, due 2017 610,000 610,000 Total long-term liabilities $1,100,000 $610,000 Total liabilities $1,399,090 $729,481 Stockholders' Equity Preferred $0.7 stock, $20 par $160,000 $160,000 Common stock, $10 par 180,000 180,000 Retained earnings 931,900 788,100 Total stockholders' equity $1,271,900 $1,128,100 Total liabilities and stockholders' equity $2,670,990 $1,857,581 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 $ 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. Number of times interest charges are earned 11. Number of times preferred dividends are earned 12. Ratio of sales to assets 13. Rate earned on total assets % 14. Rate earned on stockholders' equity % 15. Rate earned on common stockholders' equity % 16. Earnings per share on common stock $ 17. Price-earnings ratio 18. Dividends per share of common stock $ 19. Dividend yield %