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Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated: WIPER INCORPORATED Condensed Balance Sheets December 31, 2023, 2022, 2021
Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated: WIPER INCORPORATED Condensed Balance Sheets December 31, 2023, 2022, 2021 (in millions) 2023 2022 2021 Current assets $ 749 $ 969 $ 823 Other assets 2,422 1,929 1,728 Total assets $ 3,171 $ 2,898 $ 2,551 Current liabilities $ 586 $ 839 $ 732 Long-term liabilities 1,569 1,024 892 Stockholders equity 1,016 1,035 927 Total liabilities and stockholders' equity $ 3,171 $ 2,898 $ 2,551 WIPER INCORPORATED Selected Income Statement and Other Data For the Years Ended December 31, 2023 and 2022 (in millions) 2023 2022 Income statement data: Sales $ 3,059 $ 2,922 Operating income 305 319 Interest expense 93 74 Net income 218 213 Other data: Average number of common shares outstanding 42.2 47.6 Total dividends paid $ 59.0 $ 53.2 If Wiper's stock had a price/earnings ratio of 14 at the end of 2023, what was the market price of the stock? Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e. Calculate the dividend payout ratio for 2023. Assume that accounts receivable at December 31, 2023, totaled $318 million. Calculate the number of days' sales in receivables at that date. e. If Wiper's stock had a price/earnings ratio of 14 at the end of 2023, what was the market price of the stock? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. f. Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e. Note: Do not round intermediate calculations. Round your percentage answers to 2 decimal place (i.e., 0.1234 should be entered as 12.34. g. Calculate the dividend payout ratio for 2023. Note: Do not round intermediate calculations. Round your percentage answers to nearest whole percentage (i.e., 0.12 should be entered as 12). h. Assume that accounts receivable at December 31, 2023, totaled $318 million. Calculate the number of days' sales in receivables at that date. Note: Use 365 days a year. Do not round intermediate calculations. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2023 and 2022.Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2023 and 2022. Note: Round "Debt ratio" to 1 decimal place (i.e., 0.123 should be entered as 12.3) and "Debt/equity ratio" to the nearest whole percent (i.e., 012 should be entered as 12). Calculate the times interest earned ratio for 2023 and 2022. Calculate the times interest earned ratio for 2023 and 2022. Note: Round your answers to 1 decimal place
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