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The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $57 on December 31, 2016. Blige

The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $57 on December 31, 2016.

Blige Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 2016 and 2015
2016 2015
Retained earnings, January 1 $1,944,750 $1,648,550
Add net income for year 432,000 337,700
Total $2,376,750 $1,986,250
Deduct dividends
On preferred stock $7,000 $7,000
On common stock 34,500 34,500
Total $41,500 $41,500
Retained earnings, December 31 $2,335,250 $1,944,750

Blige Inc.
Comparative Income Statement
For the Years Ended December 31, 2016 and 2015
2016 2015
Sales $2,852,430 $2,624,200
Sales returns and allowances 14,190 9,220
Sales $2,838,240 $2,614,980
Cost of goods sold 1,131,500 1,040,980
Gross profit $1,706,740 $1,574,000
Selling expenses $559,000 $693,620
Administrative expenses 476,190 407,370
Total operating expenses 1,035,190 1,100,990
Income from operations $671,550 $473,010
Other income 35,350 30,190
$706,900 $503,200
Other expense (interest) 216,000 119,200
Income before income tax $490,900 $384,000
Income tax expense 58,900 46,300
Net income $432,000 $337,700

Blige Inc.
Comparative Balance Sheet
December 31, 2016 and 2015
Dec. 31, 2016 Dec. 31, 2015
Assets
Current assets
Cash $643,710 $436,530
Temporary investments 974,260 723,400
Accounts receivable (net) 540,200 511,000
Inventories 408,800 321,200
Prepaid expenses 121,788 87,310
Total current assets $2,688,758 $2,079,440
Long-term investments 511,267 -166,647
Property, plant, and equipment (net) 3,510,000 3,159,000
Total assets $6,710,025 $5,071,793
Liabilities
Current liabilities $814,775 $777,043
Long-term liabilities
Mortgage note payable, 8%, due 2021 $1,210,000 $0
Bonds payable, 8%, due 2017 1,490,000 1,490,000
Total long-term liabilities $2,700,000 $1,490,000
Total liabilities $3,514,775 $2,267,043
Stockholders' Equity
Preferred $0.7 stock, $40 par $400,000 $400,000
Common stock, $10 par 460,000 460,000
Retained earnings 2,335,250 1,944,750
Total stockholders' equity $3,195,250 $2,804,750
Total liabilities and stockholders' equity $6,710,025 $5,071,793

Required:

Determine the following measures for 2016, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.

1. Working capital $
2. Current ratio
3. Quick ratio
4. Accounts receivable turnover
5. Number of days' sales in receivables days
6. Inventory turnover
7. Number of days' sales in inventory days
8. Ratio of fixed assets to long-term liabilities
9. Ratio of liabilities to stockholders' equity
10. Number of times interest charges are earned
11. Number of times preferred dividends are earned
12. Ratio of sales to assets
13. Rate earned on total assets %
14. Rate earned on stockholders' equity %
15. Rate earned on common stockholders' equity %
16. Earnings per share on common stock $
17. Price-earnings ratio
18. Dividends per share of common stock $
19. Dividend yield %

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