wenty 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 $57 on December 31, 20Y8.

AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7
	20Y8		20Y7
Sales	$986,960		$909,300
Cost of goods sold	(394,200)		(362,660)
Gross profit	$592,760		$546,640
Selling expenses	$(183,840)		$(228,900)
Administrative expenses	(156,600)		(134,440)
Total operating expenses	(340,440)		(363,340)
Operating income	$252,320		$183,300
Other revenue and expense:
Other income	13,280		11,700
Other expense (interest)	(72,000)		(40,000)
Income before income tax	$193,600		$155,000
Income tax expense	(23,200)		(18,200)
Net income	$170,400		$136,800

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		$160,000			$180,000			$784,800			$160,000			$180,000			$668,000
Net income								170,400									136,800
Dividends:
Preferred stock								(5,600)									(5,600)
Common stock								(14,400)									(14,400)
Balances, Dec. 31		$160,000			$180,000			$935,200			$160,000			$180,000			$784,800

AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7
	Dec. 31, 20Y8		Dec. 31, 20Y7
Assets
Current assets:
Cash	$184,630		$180,010
Temporary investments	279,450		298,290
Accounts receivable (net)	197,100		182,500
Inventories	146,000		116,800
Prepaid expenses	34,932		36,000
Total current assets	$842,112		$813,600
Long-term investments	410,768		117,793
Property, plant, and equipment (net)	1,170,000		1,053,000
Total assets	$2,422,880		$1,984,393
Liabilities
Current liabilities	$247,680		$359,593
Long-term liabilities:
Mortgage note payable, 8%, due in 15 years	$400,000		$0
Bonds payable, 8%, due in 20 years	500,000		500,000
Total long-term liabilities	$900,000		$500,000
Total liabilities	$1,147,680		$859,593
Stockholders' Equity
Preferred $0.70 stock, $20 par	$160,000		$160,000
Common stock, $10 par	180,000		180,000
Retained earnings	935,200		784,800
Total stockholders' equity	$1,275,200		$1,124,800
Total liabilities and stockholders' equity	$2,422,880		$1,984,393

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		%