Question 5 Answer Saved Marked out of 1.00 P Flag question Prin Ratios Compared with Industry Averages Becaure you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual report: Dec 31, 2013 Dec 31, 2012 Quick assets $620,000 $572.000 Inventory and prepaid expenses 392,000 332,000 Other assets 478.000 4.176.000 Total Assets $5,800,000 $5,800,000 Current abilities $644,000 $560,000 10% Bonds payable 1,460,000 1,460,000 8% Preferred stock, $100 par value 480.000 480,000 Common stock, $10 par value 2,700,000 2.160,000 Retained earnings 516,000 420,000 Total Liabilities and Stockholders Equity $5.800,000 $5,080,000 For 2013, net sales amount to $13,280,000, net income is $593,600, and preferred stock dividends paid are $40,400. Required Calculate the following ratios for 2013. Round answers to two decimal places 1. Return on sales 2. Return on assets 3. Return on common stockholders' equity 4. Quick ratio 5. Current ratio 6. Debt-to-equity ratio