Twenty metrics of liquidity, Solvency, and Protability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was 558 on December 31, 2018 AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 2018 and 2017 2018 2017 Sales $2,496,600 Cost of goods sold (797,160) $1,699,440 Gross pront Selling expenses Administrative expenses Total operating expenses $2,300,290 (733,390) $1,566,900 $(727,640) 5(615,290) (524,130) (1,139,420) (427,350) (1.154,990) $411,910 $560,020 Operating income Other revenue and expens 29.480 Other revenue Other expense interest) Income before income tax (144,000) 5445,500 26,290 (79,200) $350,000 Income tax expense Net income (53.500) $397.000 (43,000) $316.000 AUTOMOTIVE SOLUTIONS INC. Comparative statement of stockholders' Equity For the Years Ended December 31, 2018 and 2017 2013 2017 Preferred Common Retained Preferred Common Stock Stock Earnings Steck Stock 300.000 40,000 $1,815,700 $300,000 $430,000 Retained Earnings $1,503,100 Balances, en AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders' Equity For the Years Ended December 31, 2018 and 2017 20Y8 2017 Common Retained Preferred Common Preferred Stock Stock Retained Earnings Earnings Stock Stock Balances, Jan. 1 $380,000 $430,000 $380,000 $430,000 $1,543,100 Net Income $1,815,700 392,000 316,000 Dividends: Preferred stock Common stock Balances, Dec. 31 $380,000 (13,300) (30,100) $2,164,300 (13,300) (30,100) $430,000 $380,000 $430,000 $1,815,700 AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 2048 and 2017 Dec 31, 20Y8 Dec 31, 2017 Assets Current assets: Cash $386,410 584,840 Temporary investments Accounts receivable (net) $402,820 667,520 401,500 248,200 430,700 Inventories 321,200 Prepaid expenses 73,114 80,560 Total current assets $1,800,600 Long-term investments $1,796,264 1,577,476 1,980,000 809,115 Property, plant, and equipment (net) 1,782,000 eBook $1,796,264 $1,800,600 809,115 1,577,476 Total current assets Long-term investments Property, plant, and equipment (net) Total assets 1,980,000 1,782,000 $5,353,740 $4,391,715 Liabilities $579,440 $776,015 Current liabilities $810,000 $0 990,000 990,000 $1,800,000 $990,000 $2,379,440 $1,766,015 Long-term liabilities: Mortgage note payable, 8%, due in 15 years Bonds payable, 8%, due in 20 years Total long-term liabilities Total liabilities Stockholders' Equity Preferred $0.70 stock, $20 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $380,000 $380,000 430,000 430,000 2,164,300 1,815,700 $2,974,300 $2,625,700 $5,353,740 $4,391,715 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' sal calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are 365 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 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 3. Qulok 4. Accounts receivable turnover 5. Das sales in receivables days 6. Inventory over 7 Days cales in inventory days 3. Debt ratio 9. Ratio of labies to schodes couity 10. to offer to me 12. Times preferred vidends camed times 13. At turnover 14. Sumont 15. Rumont 16. Meman common stock quity 17. amings on common stock 18. Pag 19. Dividends ehf common stock 20. Dividi ARRO Nared
