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 $61 on December 31, 20Y8. AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 20Y7 Sales $2,343,300 $2,158,980 Cost of goods sold (766,500) (705,180) Gross profit $1,576,800 $1,453,800 Selling expenses $(566,500) $(676,530) Administrative expenses (482,580) (397,320) Total operating expenses (1,049,080) (1,073,850) Operating income $527,720 $379,950 Other revenue and expense: Other income 27,780 24,250 Other expense (interest) (136,000) (75,200) Income before income tax $419,500 $329,000 Income tax expense (50,300) (39,800) Net income $369,200 $289,200 AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders' Equity For the Years Ended December 31, 20Y8 and 20Y7 20Y8 20Y7 Preferred Stock Common Stock Retained Earnings Preferred Stock Common Stock Retained Earnings Balances, Jan. 1 $360,000 $410,000 $1,664,000 $360,000 $410,000 $1,412,000 Net income 369,200 289,200 Dividends: Preferred stock (12,600) (12,600) Common stock (24,600) (24,600) Balances, Dec. 31 $360,000 $410,000 $1,996,000 $360,000 $410,000 $1,664,000 AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7 Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Current assets: Cash $293,640 $382,270 Temporary investments 444,430 633,480 Accounts receivable (net)Instructions