Packard Plastics, Inc., manufactures various plastic and synthetic products. Financial statement data for the firm follow:

Ratios Compared with Industry Averages Packard Plastics. Inc., manufactures various plastic and synthetic products. Financial statement data for the firm follow: 2016 (Thousands of Dollars, Except Earnings per Share} Sales revenue $825,000 Cost of goods sold 540,000 Net income 50,500 Dividends 15,000 Earnings per share 4.25 Packard Plastics, inc. Balance Sheets (Thousands of Dollars) Dec. 31, 2016 Dec. 31, 2015 Assets Cash $4,100 $2,700 Accou nts receivable (net) 66,900 60,900 Inventory 148,000 140,000 Total Cu rrent Assets 219.000 203.600 Plant assets (net) 215,000 194,000 Other assets 13.900 3,900 Total Asseis $447,900 $401,500 Liabilities and Stockholders' Equity Notes payableibanks $31,000 $25,000 Accounts payable 27,600 23,000 Accrued liabilities 250 00 24,800 Total Current Liabilities 83,700 72,800 10% Bonds payable 150,000 150,000 Total Liabilities 233,700 222,800 Common stock, $10 par value(12,500,000 shares) 125,000 125,000 Retained earnings 89,200 53,700 Total Stockholders' Equity 2'1 4,200 178.700 Total Liabilities and Stockholderf Equlty $447300 $401500 Required a. Using the given data, calculate items 1 through 8 below for 2016. Compare the performance of Packard Plastics, lnc., with the following industry averages and comment on its operations. Round to two decimal points. Median Ratios fur Manufacturers of Plastic and Ratios for Synthetic Products Packard Plastics 1. Quick ratio: 1.2 0.85 'f 2. Current ratio: 1.9 2.62 V 3. Accounts Receivable Turnover: 7.9 12.91 'I 5. Debt-to-equity ratio: 0.95 1.09 'f 6. Gross profit percentage 32.7 96 32.55 X % 7. Return on sales 3.5 96 6.12 x 96 8. Return on assets: 6.3 91: 'i 1.28 X % b. Calcuiate the dividends paid per share of common stock. (Round to two decimal points) $ 1.2 v What was the dividend payout ratio? 29.? X % c. If the most recent price per share of common stock is $50.25, what is the price-earnings ratio? 11.82 .1 The dividend yield? 2.4 X %