Ratios Compared with Industry Averages Packard Plastics, Inc., manufactures various plastic and synthetic products. Financial statement data for the firm follow: 2013 (Thousands of Dollars, Except Earnings per Share) Sales revenue Cost of goods sold Net income Dividends Earnings per share $978,000 648,000 60,600 16,800 4.04 Packard Plastics, inc. Balance Sheets (Thousands of Dollars) Dec. 31, 2013 Dec. 31, 2012 Assets Cash $4,920 $2,700 Accounts receivable (net) 80,280 60,900 Inventory Total Current Assets 177,600 140,000 219,000 203,600 Plant assets (net) 215,000 194,000 Other assets 5,300 3,900 Total Assets $439,300 $401,500 Liabilities and Stockholders' Equity Notes payable-banks $37,2001 $25,000 Accounts payable 33,120 23,000 Accrued liabilities 30,120 24,800 Total Current Liabilities 83,700 72,800 10% Bonds payable 150,000 150,000 Total Liabilities 233,700 222,800 Common stock, $10 par value (12,500,000 shares) 125,000 125,000 Retained earnings 80,600 53,700 Total Stockholders' Equity 205,600 178,700 Total Liabilities and Stockholders' Equity $439,300 $401,500