P13-9B Ratios Compared with Industry Averages Hardy Instruments, Inc., manufactures various measuring and controlling instruments. Financial statement data for the firm follow: Sales revenue Cost of goods sold Net income Dividends Earnings per share 2019 (Thousands of Dollars, Except Earnings per Share) $220,000 125,000 10,000 4,300 5.00 Hardy Instruments, Inc. Balance Sheets (Thousands of Dollars) Dec. 31, 2019 Dec. 31, 2018 Assets Cash Accounts receivable (net) Inventory Total Current Assets Plant assets (net) Other assets Total Assets $20,000 46,000 39,500 105,500 52,600 15,600 $173,700 $19,000 43,000 43,700 105,700 51,500 12,800 $ 170,000 Liabilities and Stockholders' Equity Notes payable--banks Accounts payable cons Payas Accrued liabilities Total Current Liabilities an 9% Bonds payable Bas Paya Total Liabilities Common stock, $25 par value (2,000,000 shares) Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity ' $6,000 22,700 18,000 46,700 40,000 86,700 50,000 37,000 87,000 $173,700 $6,000 18,700 24,000 48,700 40,000 88,700 50,000 31,300 81,300 $ 170,000 Required a. Using the given data, calculate items 1 through 8 below for 2019 for Hardy Instruments, Inc. Round to two decimal points. Ratios for Hardy Industries 1 Quick ratio 2 Current ratio 3 Accounts receivable turnover 4 Inventory turnover 5 Debt-to-equity ratio 6 Gross profit percentage 7 7 Return on sales 8 Return on assets 8 Median Ratios for Manufacturers of Measuring and Controlling Instruments 1.3 2.4 .. 5.9 times 3.5 times 0.73 44.3% 4.7% 7.6% b. Calculate the dividends paid per share of common stock. What was the dividend payout ratio? c. If the most recent price per share of common stock is $65, what is the price-earnings ratio? The dividend yield