Tuxedo Corporations condensed comparative income statements and balance sheets follow. All figures are given in thousands of dollars, except earnings per share.

Additional data for Tuxedo in 2014 and 2013 follow.

Balances of selected accounts at the end of 2012 were accounts receivable (net), $52,700; inventory, $99,400; accounts payable, $64,800; total assets, $647,800; and stockholders equity, $376,600. All of the bonds payable were long-term liabilities. 4. Prepare a liquidity analysis by calculating for each year the (a) Cash flow yield, (b) Cash flows to sales, (c) Cash flows to assets, (d) Free cash flow. 5. Prepare an analysis of market strength by calculating for each year the (a) Price/earnings (P/E) ratio (b) Dividend yield.

Tuxedo Corporation Comparative Income Statements For the Years Ended December 31,2014 and 2013 2014 800,400 454,100 $346,300 2013 Net sales Cost of goods sold Gross margin Operating expenses: 742,600 396,200 $346,400 $130,100 140,300 $270,400 75,900 25,000 50,900 14,000 36,900 5 2.46 $104,600 115,500 $220,100 $126,300 20,000 $106,300 35,000 71,300 5 4.76 Selling expenses Administrative expenses Total operating expenses Income from operations Interest expense Income before income taxes ncome taxes expense Net income Earnings per share Tuxedo Corporation Comparative Balance Sheets December 31, 2014 and 2013 2014 2013 Assets Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets 31,100 72,500 122,600 577,700 $803,900 S 27,200 42,700 107,800 507,500 $685,200 Liabilities and Stockholders' Equity Accounts payable Notes payable (short-term) Bonds payable Common stock, $10 par value Retained earnings Total liabilities and stockholders' equity 104,700 50,000 200,000 300,000 149,200 $803,900 72,300 50,000 110,000 300,000 152,900 $685,200