Ratios Compared with Industry Averages Because you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firms performance for the most recent year. The following data are taken from the firms latest annual report: December 31 Current Year Prior Year Quick assets $700,000 $552,000 Inventory and prepaid expenses 372,000 312,000 Other assets 4,788,000 4,200,000 Total Assets $5,860,000 $5,064,000 Current liabilities $724,000 $564,000 10% Bonds payable 1,440,000 1,440,000 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 $5,860,000 $5,064,000 For the current year, net sales amount to $11,280,000, n