uick assets Inventory and prepaid expenses Other assets Total Assets Dec. 31, 2013 Dec. 31, 2012 $680,000 $632,000 452,000 392,000 4,788,000 4,176,000 $5,920,000 $5,200,000 Current liabilities $704,000 0. $620,000 10% Bonds payable 1,520,000 1,520,000 8% Preferred stock, $100 par value 480,000 480,000 Common stock, $10 par value 2,700,000 2,160,000 Retained earnings 516,000 420,000 Total Liabilities and Stockholders' Equity $5,920,000 $5,200,000 For 2013, net sales amount to $14,280,000, net income is $604,400, and preferred stock dividends paid are $42,500. Required Calculate the following ratios for 2013. Round answers to two decimal places.. 1. Return on sales 4.23 % - 2. Return on assets * % 3. Return on common stockholders' equity 19.39 4. Quick ratio 0.97 5. Current ratio 0 x Ratios Compared with Industry Averages Because you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual report: Dec. 31, 2013 Dec. 31, 2012 Quick assets $680,000 $632,000 Inventory and prepaid expenses 452,000 392,000 Other assets 4,788,000 4,176,000 Total Assets $5,920,000 $5,200,000 Current liabilities $704,000 $620,000 10% Bonds payable 1,520,000 1,520,000 8% Preferred stock, $100 par value 480,000 480,000 Common stock, $10 par value 2,700,000 2,160,000 Retained earnings 516,000 420,000 Total Liabilities and Stockholders' Equity $5,920,000 $5,200,000 For 2013, net sales amount to $14,280,000, net income is $604,400, and preferred stock dividends paid are $42,500