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Twenty 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 $$63$ on December $31,20$Y$8.$AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December $31,20$Y$8$ and $20$Y$720$Y$820$Y$7$Sales$$2,995,920$ $$2,760,260$ Cost of goods sold$(1,058,500)(973,820)$ Gross profit$$1,937,420$ $$1,786,440$ Selling expenses$$(669,560)$ $$(829,240)$ Administrative expenses$(570,370)(487,010)$ Total operating expenses$(1,239,930)(1,316,250)$ Operating income$$697,490$ $$470,190$ Other revenue and expense: Other income$36,71030,010$ Other expense $($interest$)(216,000)(119,200)$ Income before income tax$$518,200$ $$381,000$ Income tax expense$(62,200)(45,700)$ Net income$$456,000$ $$335,300$ AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders$$ Equity For the Years Ended December $31,20$Y$8$ and $20$Y$720$Y$820$Y$7$ Preferred StockCommon StockRetained EarningsPreferred StockCommon StockRetained EarningsBalances, Jan. $1$ $$400,000$ $$460,000$ $$1,932,050$ $$400,000$ $$460,000$ $$1,636,850$ Net income $456,000335,300$ Dividends: Preferred stock $(5,600)(5,600)$ Common stock $(34,500)(34,500)$ Balances, Dec. $31$ $$400,000$ $$460,000$ $$2,347,950$ $$400,000$ $$460,000$ $$1,932,050$ AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December $31,20$Y$8$ and $20$Y$7$ Dec. $31,20$Y$8$Dec. $31,20$Y$7$ Assets Current assets: Cash$$568,780$ $$448,780$ Temporary investments$860,850743,680$ Accounts receivable $($net$)540,200511,000$ Inventories$408,800321,200$ Prepaid expenses$107,60589,760$ Total current assets$$2,486,235$ $$2,114,420$ Long$-$term investments$1,010,460126,690$ Property, plant, and equipment $($net$)3,240,0002,916,000$ Total assets$$6,736,695$ $$5,157,110$ Liabilities Current liabilities$$828,745$ $$875,060$ Long$-$term liabilities: Mortgage note payable, $8\%,$ due in $15$ years$$1,210,000$ $$0$ Bonds payable, $8\%,$ due in $20$ years$1,490,0001,490,000$ Total long$-$term liabilities$$2,700,000$ $$1,490,000$ Total liabilities$$3,528,745$ $$2,365,060$ Stockholders' Equity Preferred $$0\mathrm{.}70$ stock, $$50$ par$$400,000$ $$400,000$ Common stock, $$10$ par$460,000460,000$ Retained earnings$2,347,9501,932,050$ Total stockholders' equity$$3,207,950$ $$2,792,050$ Total liabilities and stockholders' equity$$6,736,695$ $$5,157,110$ Instructions: Determine the following measures for $20$Y$8.$ Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are $365$ days in the year$\mathrm{.}1.$ Working capital$fill in the blank $12.$ Current ratiofill in the blank $23.$ Quick ratiofill in the blank $34.$ Accounts receivable turnoverfill in the blank $45.$ Days' sales in receivablesfill in the blank $5$days$6.$ Inventory turnoverfill in the blank $67.$ Days' sales in inventoryfill in the blank $7$days$8.$ Debt ratiofill in the blank $8\%9.$ Ratio of liabilities to stockholders' equityfill in the blank $910.$ Ratio of fixed assets to long$-$term liabilitiesfill in the blank $1011.$ Times interest earnedfill in the blank $11$times$12.$ Times preferred dividends earnedfill in the blank $12$times$13.$ Asset turnoverfill in the blank $1314.$ Return on total assetsfill in the blank $14\%15.$ Return on stockholders$$ equityfill in the blank $15\%16.$ Return on common stockholders$$ equityfill in the blank $16\%17.$ Earnings per share on common stock$fill in the blank $1718.$ Price$-$earnings ratiofill in the blank $1819.$ Dividends per share of common stock$fill in the blank $1920.$ Dividend yieldfill in the blank $20\%$

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