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 $59 on December 31, 20Y8.

AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7

e Years Ended December 31, 20Y8 and 20Y7
	20Y8		20Y7
Sales	$2,360,090		$2,174,430
Cost of goods sold	(950,460)		(874,420)
Gross profit	$1,409,630		$1,300,010
Selling expenses	$(420,310)		$(543,040)
Administrative expenses	(358,050)		(318,930)
Total operating expenses	(778,360)		(861,970)
Operating income	$631,270		$438,040
Other revenue and expense:
Other income	33,230		27,960
Other expense (interest)	(160,000)		(88,000)
Income before income tax	$504,500		$378,000
Income tax expense	(60,500)		(45,200)
Net income	$444,000		$332,800

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		$400,000			$460,000			$1,931,150			$400,000			$460,000			$1,624,650
Net income								444,000									332,800
Dividends:
Preferred stock								(5,600)									(5,600)
Common stock								(20,700)									(20,700)
Balances, Dec. 31		$400,000			$460,000			$2,348,850			$400,000			$460,000			$1,931,150

AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7
	Dec. 31, 20Y8		Dec. 31, 20Y7
Assets
Current assets:
Cash	$308,670		$490,120
Temporary investments	467,170		812,210
Accounts receivable (net)	459,900		430,700
Inventories	350,400		262,800
Prepaid expenses	58,392		98,020
Total current assets	$1,644,532		$2,093,850
Long-term investments	1,531,398		673,103
Property, plant, and equipment (net)	2,600,000		2,340,000
Total assets	$5,775,930		$5,106,953
Liabilities
Current liabilities	$567,080		$1,215,803
Long-term liabilities:
Mortgage note payable, 8%, due in 15 years	$900,000		$0
Bonds payable, 8%, due in 20 years	1,100,000		1,100,000
Total long-term liabilities	$2,000,000		$1,100,000
Total liabilities	$2,567,080		$2,315,803
Stockholders' Equity
Preferred $0.70 stock, $50 par	$400,000		$400,000
Common stock, $10 par	460,000		460,000
Retained earnings	2,348,850		1,931,150
Total stockholders' equity	$3,208,850		$2,791,150
Total liabilities and stockholders' equity	$5,775,930		$5,106,953

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' 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	____________	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	_____________	%