What is the 2016 Current Ratio? (round to 1 decimal point)

What is the 2016 Net Profit Margin?

A 50 D 6 2016 2015 7 Year-end common stock price $27.00 $40.00 8 Year-end shares outstanding (in millions) 50 50 9 Tax rate 40% 40% 10 After-tax cost of capital 11.0% 10.5% 11 Lease payments $28 $28 12 Required sinking fund payments $20 $20 13 14 15 MicroDrive Inc. Balance Sheets and Income Statements for Years Eng 16 (Millions of Dollars, Except for Per Share Data) 17 Balance Sheets 2016 2015 18 Assets 19 Cash and equivalents $ $ 60 20 Short-term investments 40 21 Accounts receivable 500 380 22 Inventories 1,000 820 23 Total current assets $ 1,550 ##### 24 Net plant and equipment 2,000 1,700 25 Total assets $ 3,550 ##### 26 27 Liabilities and Equity 28 Accounts payable 200 $ 190 29 Notes payable 280 130 30 Accruals 300 280 31 Total current liabilities $ 780 $ 600 32 Long-term bonds 1,200 1,000 33 Total liabilities 1,980 ##### 34 Preferred stock (400,000 shares) 100 35 Common stock (50,000,000 shares) 500 500 36 Retained earnings 970 800 37 Total common equity $ 1,470 ##### 38 Total liabilities and equity $ 3,550 ##### 39 40 Income Statements 2016 2015 41 Sales $ 5,000 ##### 42 Costs of goods sold except depreciation 3,800 3,560 43 Depreciation 200 170 44 Other operating expenses 500 480 45 Earnings before interest and taxes (EBIT) 500 $ 550 46 Less interest 120 100 47 Pre-tax earnings $ 380 $ 450 48 Taxes (40%) 160 180 49 Net income 220 $ 270 52 Other Data 53 Common dividends $50 $48 54 Addition to retained earnings $162 $214 55 Lease payments $28 $28 56 Bonds' required sinking fund payments $20 $20 57 Common stock price per share $27 $40 58 100