Ratios Compared with Industry Averages Because 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 asset $610, $562.000 Inventory and prepaid expenses 382,000 322,000 Other assets 4.788.000 4.176,000 Total Assets $5.70,000 $5.040,000 Current abilities $634.000 $550,000 10 Bands Buyable 1.450.000 1,450,000 8 Preferred stock, 5100 par value 480.000 480,000 Common stock 510 par value 2.700.000 160,000 Retained earrings 516,000 420,000 Total abilities and Stockholders' Equity $5.760,000 $5.000.000 For 2013, net sales amount to $12,280,000, net income is $583,600, and preferred stock dividends paid are $39,400. Required Calculate the following ratios for 2013. Round answers to two decimal places. 1. Return on sales % N 2. Return on assets Return on common stockholders' equity 4. Quick ratio 5. Current ratio 6. Debt-to-equity ratio