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 $64 on December 31, 20Y8.

AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 2048 and 2017 2018 2017 Sales $4,557,025 $4,198,590 Cost of goods sold (1,651,260) (1,519,160) Gross profit $2,905,765 $2,679,430 Selling expenses $(964,340) $(1,172,000) Administrative expenses (821,475) (688,310) Total operating expenses (1,785,815) (1,860,310) Operating income $1,119,950 $819,120 Other revenue and expense: Other revenue 58,950 52,280 Other expense (interest) (288,000) (158,400) Income before income tax $890,900 $713,000 Income tax expense (106,900) (85,800) Net income $784,000 $627,200 AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders' Equity For the Years Ended December 31, 2048 and 2017 2018 2017 Preferred Common Retained Preferred Common Retained Stock Stock Earnings Stock Stock Earnings Balances, Jan. 1 $760,000 $870,000 $3,615,100 $760,000 $870,000 $3,062,100 Net income 784,000 627,200 Dividends: Preferred stock (13,300) (13,300) Common stock (60,900) (60,900) Balances, Dec. 31 $760,000 $870,000 $4,324,900 $760,000 $870,000 $3,615,100 AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 2018 and 2047 Dec. 31, 2018 Dec. 31, 2017 Assets Current assets: Cash $867,440 $754,060 Temporary investments 1,312,880 1,249,590 Accounts receivable (net) 854,100 803,000 Inventories 642,400 496,400 Prepaid expenses 164,116 150,810 Total current assets $3,840,936 $3,453,860 Long-term investments 2,917,884 1,406,177 Property, plant, and equipment (net) 3,960,000 3,564,000 Total assets $10,718,820 $8,424,037 Liabilities Current liabilities $1,163,920 $1,198,937 Long-term liabilities: Mortgage note payable, 8%, due in 15 years $1,620,000 $0 Bonds payable, 8%, due in 20 years 1,980,000 1,980,000 Total long-term liabilities $3,600,000 $1,980,000 Total liabilities $4,763,920 $3,178,937 Stockholders' Equity Preferred $0.70 stock, $40 par $760,000 $760,000 Common stock, $10 par 870,000 870,000 Retained earnings 4,324,900 3,615,100 Total ho equity $5,954,900 $5,245,100 Total liabilities and stockholders' equity $10,718,820 $8,424,037 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. 3. Quick ratio 4. Accounts receivable turnover 5. Days' sales in receivables days 6. Inventory turnover 7. Days' sales in inventory days 8. Debt ratio % 9. Ratio of liabilities to stockholders' equity 10. Ratio of fixed assets to long-term liabilities 11. Times interest earned times 12. Times preferred dividends earned times 13. Asset turnover 14. Return on total assets % 15. Return on stockholders' equity % 16. Return on common stockholders' equity % 17. Earnings per share on common stock $ 18. Price-earnings ratio 19. Dividends per share of common stock $ 20. Dividend yield %