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, Sales revenue Cost of goods sold Net income Dividends Earnings per share Except Earnings per Share) $220,000 125,000 8,000 2,600 4.25 AVERY INSTRUMENTS, INC. Balance Sheets (Thousands of Dollars) Dec. 31, 2016 Dec. 31, 2015 Assets Cash Accounts receivable (net) Inventory $18,500 46,000 39,500 104,000 52,600 15,600 $172,200 $18,000 43,000 43,700 104,700 1,500 13,800 $170,000 Total Current Assets Plant assets (net) Other assets Total Assets Liabilities and Stockholders' Equity Notes payable-banks Accounts payable Accrued liabilities $6,000 22,700 16,500 45,200 40,000 85,200 50,000 37,000 87,000 $172,200 $6,000 18,700 24,000 48,700 40,000 88,700 Total Current Liabilities 9% Bonds payable Total Liabilities Common stock, $25 par value (2,000,000 shares) Retained earnings 50,000 31,300 81,300 $170,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Required a. Using the given data, calculate items 1 through 8 below for 2016 for Avery Instruments, Inc. Round to two decimal points Median Ratios for Manufacturers of Measuring and Controlling Instruments Ratios for Packard Plastics 1. Quick ratio: 1.3 2. Current ratio: 2.4 3. Accounts Receivable Turnover: 5.9 4. Inventory turnover: 5. Debt-to-equity ratio 6. Gross profit percentage 3.5 0.73 44.3 % 7. Return on sales 4.5 % 8. Return on assets: 7.6 % 0 X 96 b. Calculate the dividends paid per share of common stock What was the dividend payout ratio? 0 C. If the most recent price per share of common stock is $63, what is the price-earnings ratio? The dividend yield? X%