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The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $68 on December 31, 2014. Blige

The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $68 on December 31, 2014.

Blige Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 2014 and 2013
2014 2013
Retained earnings, January 1 $1,558,200 $1,323,500
Add net income for year 360,000 271,100
Total $1,918,200 $1,594,600
Deduct dividends
On preferred stock $11,200 $11,200
On common stock 25,200 25,200
Total $36,400 $36,400
Retained earnings, December 31 $1,881,800 $1,558,200

Blige Inc.
Comparative Income Statement
For the Years Ended December 31, 2014 and 2013
2014 2013
Sales $2,467,260 $2,269,900
Sales returns and allowances 12,270 7,980
Net sales $2,454,990 $2,261,920
Cost of goods sold 911,040 838,160
Gross profit $1,543,950 $1,423,760
Selling expenses $537,680 $659,620
Administrative expenses 458,030 387,390
Total operating expenses 995,710 1,047,010
Income from operations $548,240 $376,750
Other income 28,860 24,050
$577,100 $400,800
Other expense (interest) 168,000 92,800
Income before income tax $409,100 $308,000
Income tax expense 49,100 36,900
Net income $360,000 $271,100

Blige Inc.
Comparative Balance Sheet
December 31, 2014 and 2013
Dec. 31, 2014 Dec. 31, 2013
Assets
Current assets
Cash $625,020 $329,870
Temporary investments 945,970 546,640
Accounts receivable (net) 430,700 401,500
Inventories 321,200 248,200
Prepaid expenses 118,242 65,970
Total current assets $2,441,132 $1,592,180
Long-term investments 418,648 23,198
Property, plant, and equipment (net) 2,520,000 2,268,000
Total assets $5,379,780 $3,883,378
Liabilities
Current liabilities $717,980 $485,178
Long-term liabilities
Mortgage note payable, 8%, due 2019 $940,000 $0
Bonds payable, 8%, due 2015 1,160,000 1,160,000
Total long-term liabilities $2,100,000 $1,160,000
Total liabilities $2,817,980 $1,645,178
Stockholders' Equity
Preferred $0.70 stock, $20 par $320,000 $320,000
Common stock, $10 par 360,000 360,000
Retained earnings 1,881,800 1,558,200
Total stockholders' equity $2,561,800 $2,238,200
Total liabilities and stockholders' equity $5,379,780 $3,883,378

Required:

Determine the following measures for 2014, 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 net 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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