Ratios Compared with Industry Averages Packard Plastics, Inc., manufactures various plastic and synthetic products. Financial statement data for the firm follow: Sales revenue Cost of goods sold Net income Dividends Earnings per share 2013 (Thousands of Dollars, Except Earnings per Share) $1,141,000 756,000 50,500 19,600 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. 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 Ratios for Synthetic Products Packard Plastics 1. Quick ratio: 1.20 OX 2. Current ratio: 1.90 2.62 3. Accounts Receivable Turnover: 7.90 Ox 4. Inventory turnover: 7.80 5. Debt-to-equity ratio: 0.95 OX 6. Gross profit percentage 32.70 96 0 x % 7. Return on sales 3.50 % 0 x 96 8. Return on assets: 6.30 96 0 x 96 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. $ 0 What was the dividend payout ratio? X %6 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. The dividend yield? x %