Twenty metrics of liquidity, Solvency, and Profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $60 on December 31, 20Y8.

Twenty metrics of liquidity, Solvency, and Profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $60 on December 31, 20Y8 AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 20Y7 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense $3,679,200 $3,389,840 (1,403,060) (1,290,820) $2,276,140 $2,099,020 (734,640) 24,540) (542,990) (1,360,440) (1,467,530) $631,490 (625,800) $915,700 48,200 (248,000) $715,900 (85,900) $630,000 40,310 (136,800) $535,000 (63,800) $471,200 Other income Other expense (interest) Income before income tax Income tax expense Net income AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders' Equity For the Years Ended December 31, 20Y8 and 20Y7 20Y8 20Y7 Preferred Common Retained Preferred Common Retained Earnings Balances, Jan. 1$560,000 $640,000 $2,713,900 $560,000 $640,000 $2,300,500 471,200 Stock Stock Earnings Stock Stock Net income Dividends: 630,000 (9,800) (48,000) Balances, Dec. 31 $560,000 $640,000 $3,286,100 $560,000 $640,000 $2,713,900 Preferred stock Common stock (9,800) (48,000) AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7 Dec. 31, 20Y8 Dec. 31, Assets Current assets: $635,040 666,480 961,140 1,104,460 635,100 394,200 133,300 $2,906,219 $2,933,510 594,441 and equipment ,030,000 3,627,000 Temporary investments Accounts receivable (net) 678,900 511,000 120,139 Prepaid expenses Total current assets Long-term investments 1,587,371 (net) Total assets 48,523,590 $7,154,98.1 Liabilities Current liabilities Long-term liabilities: Mortgage nate payable, in 15 years Bonds payable, 8%, due in 20 $937,490 $1,531,081 8%, due 1,390,000 Tatal lng-term liabilities Total liabilities 1,710,000 1,710,000 $3,100,000 $1,710,000 $1,037,490 $3,241,081 Stockholders' Equity Preferred $0.70 stock, $40 par Common stock, $10 par Retained camings Tatal stockholders' equity Tatal liabilities and stockholders $560,000 560,000 640,000 3,286,100 2,713,900 $4,486,100 $3,913,900 48,523,590 $7,154,981 640,000 Instructions: Determine the following measures for 20Y8. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days, soles in recevables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and inal amounts to one decimal place. Assume there are 365 days in the year Twenty metrics of liquidity, Solvency, and Profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $60 on December 31, 20Y8 AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 20Y7 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense $3,679,200 $3,389,840 (1,403,060) (1,290,820) $2,276,140 $2,099,020 (734,640) 24,540) (542,990) (1,360,440) (1,467,530) $631,490 (625,800) $915,700 48,200 (248,000) $715,900 (85,900) $630,000 40,310 (136,800) $535,000 (63,800) $471,200 Other income Other expense (interest) Income before income tax Income tax expense Net income AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders' Equity For the Years Ended December 31, 20Y8 and 20Y7 20Y8 20Y7 Preferred Common Retained Preferred Common Retained Earnings Balances, Jan. 1$560,000 $640,000 $2,713,900 $560,000 $640,000 $2,300,500 471,200 Stock Stock Earnings Stock Stock Net income Dividends: 630,000 (9,800) (48,000) Balances, Dec. 31 $560,000 $640,000 $3,286,100 $560,000 $640,000 $2,713,900 Preferred stock Common stock (9,800) (48,000) AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7 Dec. 31, 20Y8 Dec. 31, Assets Current assets: $635,040 666,480 961,140 1,104,460 635,100 394,200 133,300 $2,906,219 $2,933,510 594,441 and equipment ,030,000 3,627,000 Temporary investments Accounts receivable (net) 678,900 511,000 120,139 Prepaid expenses Total current assets Long-term investments 1,587,371 (net) Total assets 48,523,590 $7,154,98.1 Liabilities Current liabilities Long-term liabilities: Mortgage nate payable, in 15 years Bonds payable, 8%, due in 20 $937,490 $1,531,081 8%, due 1,390,000 Tatal lng-term liabilities Total liabilities 1,710,000 1,710,000 $3,100,000 $1,710,000 $1,037,490 $3,241,081 Stockholders' Equity Preferred $0.70 stock, $40 par Common stock, $10 par Retained camings Tatal stockholders' equity Tatal liabilities and stockholders $560,000 560,000 640,000 3,286,100 2,713,900 $4,486,100 $3,913,900 48,523,590 $7,154,981 640,000 Instructions: Determine the following measures for 20Y8. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days, soles in recevables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and inal amounts to one decimal place. Assume there are 365 days in the year