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 $60 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 $2,707,500 $2,284,600

Add net income for year 630,000 467,900

Total $3,337,500 $2,752,500

Deduct dividends

On preferred stock $9,800 $9,800

On common stock 35,200 35,200

Total $45,000 $45,000

Retained earnings, December 31 $3,292,500 $2,707,500

Blige Inc. Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015

Sales $3,961,710 $3,644,800

Sales returns and allowances 19,710 12,810

Sales $3,942,000 $3,631,990

Cost of goods sold 1,460,730 1,343,870

Gross profit $2,481,270 $2,288,120

Selling expenses $816,680 $1,027,450

Administrative expenses 695,690 603,420

Total operating expenses 1,512,370 1,630,870

Income from operations $968,900 $657,250

Other income 51,000 41,950 $1,019,900 $699,200

Other expense (interest) 304,000 167,200

Income before income tax $715,900 $532,000

Income tax expense 85,900 64,100

Net income $630,000 $467,900

Blige Inc. Comparative Balance Sheet December 31, 2016 and 2015 Dec. 31, 2016 Dec. 31, 2015

Assets Current assets Cash $947,440 $638,420

Temporary investments 1,433,960 1,057,970

Accounts receivable (net) 751,900 708,100

Inventories 569,400 438,000

Prepaid expenses 179,250 127,680

Total current assets $3,881,950 $2,970,170

Long-term investments 1,372,300 512,151

Property, plant, and equipment (net) 4,180,000 3,762,000

Total assets $9,434,250 $7,244,321

Liabilities Current liabilities $1,141,750 $1,246,821

Long-term liabilities Mortgage note payable, 8%, due 2021 $1,710,000 $0

Bonds payable, 8%, due 2017 2,090,000 2,090,000

Total long-term liabilities $3,800,000 $2,090,000

Total liabilities $4,941,750 $3,336,821

Stockholders' Equity Preferred $0.7 stock, $40 par $560,000 $560,000

Common stock, $10 par 640,000 640,000

Retained earnings 3,292,500 2,707,500

Total stockholders' equity $4,492,500 $3,907,500

Total liabilities and stockholders' equity $9,434,250 $7,244,321

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