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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,

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 $1,141,000
Cost of goods sold 756,000
Net income 50,500
Dividends 19,600
Earnings per share 4.04

Packard Plastics, inc. Balance Sheets (Thousands of Dollars)
Dec. 31, 2013 Dec. 31, 2012
Assets
Cash $5,740 $2,700
Accounts receivable (net) 93,660 60,900
Inventory 207,200 140,000
Total Current Assets 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 $43,400 $25,000
Accounts payable 38,640 23,000
Accrued liabilities 35,140 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

Required a. Using the given data, calculate items 1 through 8 below for 2013 for Packard Plastics, Inc.

Round all answers to two decimal places.

Median Ratios for Manufacturers of Plastic and Synthetic Products Ratios for Packard Plastics
1. Quick ratio: 1.20 Answer
2. Current ratio: 1.90 Answer
3. Accounts Receivable Turnover: 7.90 Answer
4. Inventory turnover: 7.80 Answer
5. Debt-to-equity ratio: 0.95 Answer
6. Gross profit percentage 32.70 % Answer %
7. Return on sales 3.50 % Answer %
8. Return on assets: 6.30 % Answer %

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. $Answer

What was the dividend payout ratio? Answer% c. If the most recent price per share of common stock is $44.75, what is the price-earnings ratio? Round answers to two decimal places. Answer The dividend yield? Answer%

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