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The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. The comparative

The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2.

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The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 2092 2011 Retained earnings, January 1 $5,375,000 $4,545,000 Net income $900,000 $925,000 Dividends: On preferred stock (45,000) (45,000) On common stock (50,000) (50,000) Increase in retained earnings $805,000 $830,000 Retained earnings, December 31 $6,180,000 $5,375,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 Sales $9,400,000 $10,000,000 (5,350,000) (4,950,000) Cost of goods sold Gross profit $4,650,000 $4,450,000 Selling expenses Administrative expenses $(2,000,000) (1,500,000) $(3,500,000) $(1,880,000) (1,410,000) $(3,290,000) $1,150,000 $1,160,000 Total operating expenses Operating income Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense 150,000 (170,000) $1,130,000 (230,000) $900,000 140,000 (150,000) $1,150,000 (225,000) Net income $925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 2012 Assets 2011 Current assets: $500,000 1,010,000 $400,000 1,000,000 740,000 510,000 950,000 Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) 1,190,000 250,000 229,000 $3,690,000 $3,089,000 2,350,000 2,300,000 3,740,000 3,366,000 Total assets $9,780,000 $8,755,000 $900,000 $880,000 $200,000 $0 1,500,000 1,500,000 $1,700,000 $1,500,000 Liabilities Current liabilities Long-term liabilities: Mortgage note payable, 10% Bonds payable, 10% Total long-term liabilities Total liabilities Stockholders' Equity Preferred $0.90 stock, $10 par Common stock, $5 par Retained earnings Total stockholders' equity $2,600,000 $2,380,000 $500,000 $500,000 500,000 500,000 5,375,000 6,180,000 $7,180,000 $6,375,000 Total liabilities and stockholders' equity $9,780,000 $8,755,000 Determine the following measures for 20Y2, rounding to one decimal place, except 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. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield

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