Question 15 Answer saved Marked out of 24.00 P Flag question Ratios Compared with Industry Averages Avery Instrument, Inc, is a manufacturer of various measuring and controlling instruments. Financial statement data for the firm are as follows: 2016 (Thousands of Dollars. Except Earnings per Share) Sales revenue $220,000 Cost of goods sold 125,000 Net income 8,000 Dividends 2,600 Earnings per share 4.25 AVERY INSTRUMENTS, INC. Balance Sheets (Thousands of Dollars) Dec 31, 2016 Dec 31, 2015 Assets Cash $18.500 $18,000 Accounts receivable (net) 46,000 41000 Inventory 39,500 43,700 Total Current Assets 104,000 104,700 Plant assets (net) 52,600 51,500 Other assets 15,600 13,800 $172,200 $170,000 AVERY INSTRUMENTS, INC. Balance Sheets (Thousands of Dollars) Dec. 31, 2016 Dec. 31, 2015 Assets Cash $18,500 $18,000 Accounts receivable (net) 46,000 43,000 Inventory 39,500 43,700 Total Current Assets 104,000 104,700 Plant assets (net) 52,600 51,500 Other assets 15,600 13,800 Total Assets $172,200 $170,000 Liabilities and Stockholders' Equity Notes payable-banks $6,000 $6,000 Accounts payable 22,700 18,700 Accrued liabilities 16,500 24,000 Total Current Liabilities 45,200 48,700 9% Bonds payable 40,000 40,000 Total Liabilities 85,200 88,700 Common stock, $25 par value (2,000,000 shares) 50,000 50,000 Retained earnings 37,000 31,300 Total Stockholders' Equity 87,000 81,300 Total Liabilities and Stockholders' Equity $172,200 $170,000 Required a. Using the given data, calculate items 1 through 8 below for 2016 for Avery Instruments, Inc. Round answers to two decimal places. Round answers to two decimal places Median Ratios for Manufacturers of Measuring Ratios for and Controlling Instruments Packard Plastics 1. Quick ratio 1.30 2. Current ratio: 2.40 2. Accounts Receivable Turnover 4. Inventory turnover: 3.50 5 Debt-to-equity ratio: 6. Gross profit percentage 44.30 7. Return on sales 8 Return on assets: 7,60 0.73 b. Calculate the dividends paid per share of common stock. (Note: Number of shares shown on balance sheet is not shown in thousands. The number of shares in thousands" is 2,000.) Round answers to two decimal places $ 0 What was the dividend payout ratio? C. If the most recent price per share of common stock is $63, what is the price-earnings ratio? Round answers to two decimal places The dividend yield