Ratios Compared with Industry Averages Adams Plastics, Inc., manufactures various plastic and synthetic products. 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) $825,000 550,000 50,500 17,500 4.04 Sunnort Adams Plastics, inc. Balance Sheets (Thousands of Dollars) Dec. 31, 2019 Dec. 31, 2018 Assets Cash $2,100 $2,700 Accounts receivable (net) 66,900 60,900 Inventory 148,000 140,000 Total Current Assets 217,000 203,600 Plant assets (net) 215,000 194,000 Other assets 13,900 4,000 Total Assets $445,900 $401,600 Liabilities and Stockholders' Equity Notes payable-banks $31,400 $25,000 Accounts payable 27,600 23,000 Accrued liabilities 25,100 24,800 Total Current Liabilities 84,100 72,800 10% Bonds payable 150,000 150,000 Total Liabilities 234,100 222,800 Common stock, $10 par value (12,500,000 shares) 125,000 125,000 Retained earnings 86,800 53,800 Total Stockholders' Equity 211,800 178,800 Total Liabilities and Stockholders' Equity $445,900 $401,600 Required a. Using the given data, calculate items 1 through 8 below for 2019. Compare the performance of Adams Plastics, Inc., with the following industry averages and comment on its operations. Round all answers to two decimal places. Ratios for Packard Plastics Median Ratios for Manufacturers of Plastic and Synthetic Products 1. Quick ratio: 1.20 2. Current ratio: 1.90 3. Accounts Receivable Turnover: 7.90 4. Inventory turnover: 7.80 5. Debt-to-equity ratio: 0.95 6. Gross profit percentage 32.70 % 7. Return on sales 3.50 % 8. Return on assets: 6.30 % Sunnort 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 12,500.) Round answers to two decimal places. What was the dividend payout ratio? c. If the most recent price per share of common stock is $51.00, what is the price-earnings ratio? Round answers to two decimal places. The dividend yield