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Question: nineteen measures of solvency and profitability the comparative financial statements...

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Nineteen Measures of Solvency and Profitability

The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $55 on December 31, 2016.

Blige Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 2016 and 2015
    2016     2015
Retained earnings, January 1 $1,029,350 $873,250
Add net income for year 224,000 178,800
Total $1,253,350 $1,052,050
Deduct dividends
On preferred stock $7,700 $7,700
On common stock 15,000 15,000
Total $22,700 $22,700
Retained earnings, December 31 $1,230,650 $1,029,350


Blige Inc.
Comparative Income Statement
For the Years Ended December 31, 2016 and 2015
    2016     2015
Sales $1,283,150 $1,180,500
Sales returns and allowances 6,380 4,150
Sales $1,276,770 $1,176,350
Cost of goods sold 470,120 432,510
Gross profit $806,650 $743,840
Selling expenses $264,000 $322,350
Administrative expenses 224,880 189,310
Total operating expenses 488,880 511,660
Income from operations $317,770 $232,180
Other income 16,730 14,820
$334,500 $247,000
Other expense (interest) 80,000 44,000
Income before income tax $254,500 $203,000
Income tax expense 30,500 24,200
Net income $224,000 $178,800


Blige Inc.
Comparative Balance Sheet
December 31, 2016 and 2015
    Dec. 31, 2016     Dec. 31, 2015
Assets
Current assets
Cash $264,800 $199,970
Temporary investments 400,770 331,380
Accounts receivable (net) 248,200 233,600
Inventories 189,800 146,000
Prepaid expenses 50,094 39,990
Total current assets $1,153,664 $950,940
Long-term investments 607,506 198,421
Property, plant, and equipment (net) 1,300,000 1,170,000
Total assets $3,061,170 $2,319,361
Liabilities
Current liabilities $360,520 $270,011
Long-term liabilities
Mortgage note payable, 8%, due 2021 $450,000 $0
Bonds payable, 8%, due 2017 550,000 550,000
Total long-term liabilities $1,000,000 $550,000
Total liabilities $1,360,520 $820,011
Stockholders' Equity
Preferred $0.7 stock, $20 par $220,000 $220,000
Common stock, $10 par 250,000 250,000
Retained earnings 1,230,650 1,029,350
Total stockholders' equity $1,700,650 $1,499,350
Total liabilities and stockholders' equity $3,061,170 $2,319,361

Required:

Determine the following measures for 2016, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.

1. Working capital $ 793,144
2. Current ratio 3.2
3. Quick ratio 2.5
4. Accounts receivable turnover 5.3
5. Number of days' sales in receivables 68.9 days
6. Inventory turnover 2.8
7. Number of days' sales in inventory 130.4 days
8. Ratio of fixed assets to long-term liabilities 1.3
9. Ratio of liabilities to stockholders' equity 0.8
10. Number of times interest charges are earned 4.2
11. Number of times preferred dividends are earned
12. Ratio of sales to assets
13. Rate earned on total assets %
14. Rate earned on stockholders' equity 14.0 %
15. Rate earned on common stockholders' equity 15.7 %
16. Earnings per share on common stock $ 8.65
17. Price-earnings ratio 6.4
18. Dividends per share of common stock $ 0.6
19. Dividend yield 1.1 %

Just need help on 11-13, everything else is correct.

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