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 $119.70 on December 31, 2018. Sales Cost of goods sold AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 2018 $10,000,000 (5,350,000) $ 4,650,000 $ (2,000,000) (1,500,000) $ (3,500,000) $ 1,150,000 2017 $ 9,400,000 (4,950,000) $ 4,450,000 $(1,880,000) (1,410,000) $(3,290,000) $ 1,160,000 Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue 150,000 (170,000) 140,000 (150,000) Other expense (interest) Income before income tax $1,130,000 $1,150,000 Other expense (interest) Income before income tax $ 1,130,000 (170,000) $1,150,000 (150,000) Income tax expense Net income (230,000) (225,000) $900,000 $925,000 AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders' Equity For the Years Ended December 31, 20Y8 and 20Y7 20Y8 2017 Preferred Stock Common Stock Retained Preferred Common Earnings Stock Stock Retained Earnings Balances, Jan. 1 $500,000 $500,000 $5,375,000 $500,000 $500,000 $4,545,000 Net income 900,000 925,000 Dividends: I Preferred stock Common stock Balances, Dec. 31 $500,000 $500,000 (45,000) (50,000) $6,180,000 $500,000 $500,000 (45,000) (50,000) $5,375,000 AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7 Assets Current assets: Cash Dec. 31, 20Y8 Dec. 31, 20Y7 $ 500,000 $400,000 Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets 1,010,000 1,000,000 740,000 510,000 1,190,000 950,000 250,000 229,000 $3,690,000 Long-term investments 2,350,000 $3,089,000 2,300,000 Property, plant, and equipment (net) 3,740,000 3,366,000 Total assets $9,780,000 $8,755,000 Current liabilities Long-term liabilities: Liabilities $ 900,000 $ 880,000 Current liabilities $900,000 $880,000 Long-term liabilities: Mortgage note payable, 10%) $ 200,000 $ 0 Bonds payable, 10% 1,500,000 1,500,000 Total long-term liabilities $1,700,000 $1,500,000 Total liabilities $2,600,000 $2,300,000 Stockholders' Equity Preferred $0.90 stock, $10 par $ 500,000 Common stock, $5 par 500,000 $ 500,000 500,000 Retained earnings 6,180,000 5,375,500 Total stockholders' equity $7,180,000 $6,375,000 Total liabilities and stockholders' equity $9,780,000 $8,755,000 Instructions: Determine the following measures for 2018. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are 365 days in the year. 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Days' sales in receivables 6. Inventory turnover 7. Days' sales in inventory 8. Debt ratio 9. Ratio of liabilities to stockholders' equity days days % 10. Ratio of fixed assets to long-term liabilities 11. Times interest earned times 12. Times preferred dividends earned 13. Asset turnover 14. Return on total assets 15. Return on stockholders' equity 16. Return on common stockholders' equity times % % % 17. Earnings per share on common stock 18. Price-earnings ratio 19. Dividends per share of common stock 20. Dividend yield A %