Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated:

WIPER INCORPORATED
Condensed Balance Sheets
December 31, 2023, 2022, 2021
(in millions)
	2023	2022	2021
Current assets	$ 813	$ 1,051	$ 913
Other assets	2,431	1,938	1,737
Total assets	$ 3,244	$ 2,989	$ 2,650
Current liabilities	$ 595	$ 848	$ 750
Long-term liabilities	1,624	1,097	964
Stockholders equity	1,025	1,044	936
Total liabilities and stockholders' equity	$ 3,244	$ 2,989	$ 2,650

WIPER INCORPORATED
Selected Income Statement and Other Data
For the Years Ended December 31, 2023 and 2022
(in millions)
	2023	2022
Income statement data:
Sales	$ 3,068	$ 2,931
Operating income	314	328
Interest expense	102	83
Net income	245	240
Other data:
Average number of common shares outstanding	43.1	48.5
Total dividends paid	$ 68.0	$ 54.1

Required:

1. Calculate return on investment, based on net income and average total assets, for 2023 and 2022.
2. Calculate return on equity for 2023 and 2022.
3. Calculate working capital and the current ratio for each of the past three years.
4. Calculate earnings per share for 2023 and 2022.
5. If Wiper's stock had a price/earnings ratio of 11 at the end of 2023, what was the market price of the stock?
6. Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e.
7. Calculate the dividend payout ratio for 2023.
8. Assume that accounts receivable at December 31, 2023, totaled $327 million. Calculate the number of days' sales in receivables at that date.
9. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2023 and 2022.
10. Calculate the times interest earned ratio for 2023 and 2022.

Complete this question by entering your answers in the tabs below.

• Req A and B
• Req C
• Req D
• Req E to H
• Req I
• Req J

a. Calculate return on investment, based on net income and average total assets, for 2023 and 2022. Note: Do not round intermediate calculations. Round your percentage answers to 1 decimal place (i.e., 0.123 should be entered as 12.3. b. Calculate return on equity for 2023 and 2022. Note: Round your percentage answers to 1 decimal place (i.e., 0.123 should be entered as 12.3.

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	2023 2022 a. Return on investment % % b. Return on equity % %

• Req A and B

Calculate working capital and the current ratio for each of the past three years. Note: Enter your answers in millions (i.e., 5,000,000 should be entered as 5). Round "Current ratio" to 1 decimal place.

	2023 2022 2021 Working capital Current ratio

Calculate earnings per share for 2023 and 2022. Note: Round your answers to 2 decimal places.

	2023 2022 Earnings per share

e. If Wiper's stock had a price/earnings ratio of 11 at the end of 2023, what was the market price of the stock? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. f. Calculate the cash dividend per share for 2023 and the dividend yield based on the market price calculated in part e. Note: Do not round intermediate calculations. Round your percentage answers to 2 decimal place (i.e., 0.1234 should be entered as 12.34. g. Calculate the dividend payout ratio for 2023. Note: Do not round intermediate calculations. Round your percentage answers to nearest whole percentage (i.e., 0.12 should be entered as 12). h. Assume that accounts receivable at December 31, 2023, totaled $327 million. Calculate the number of days' sales in receivables at that date. Note: Use 365 days a year. Do not round intermediate calculations.

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	e. Market price f. Cash dividends per share f. Dividend yield % g. Dividend payout ratio % h. Number of days' sales days

Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2023 and 2022. Note: Round "Debt ratio" to 1 decimal place (i.e., 0.123 should be entered as 12.3) and "Debt/equity ratio" to the nearest whole percent (i.e., 012 should be entered as 12).

	2023 2022 Debt ratio % % Debt/equity ratio % %

Calculate the times interest earned ratio for 2023 and 2022. Note: Round your answers to 1 decimal place.

	2023 2022 Times interest earned times times