Question

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Nineteen Measures of Solvency and Profitability

The comparative financial statements of Blige Inc. are asfollows. The market price of Blige Inc. common stock was $52 onDecember 31, 2014.

BligeInc.
ComparativeRetained Earnings Statement
For the YearsEnded December 31, 2014 and 2013
			2014		2013
Retained earnings,January 1			$2,338,175		$1,968,225
Add net income foryear			496,800		403,100
Total			$2,834,975		$2,371,325
Deduct dividends
	On preferred stock		$8,400		$8,400
	On common stock		24,750		24,750
		Total	$33,150		$33,150
Retained earnings,December 31			$2,801,825		$2,338,175

BligeInc.
ComparativeIncome Statement
For the YearsEnded December 31, 2014 and 2013
	2014		2013
Sales	$3,354,615		$3,086,200
Sales returns and allowances	16,690		10,850
Net sales	$3,337,925		$3,075,350
Cost of goods sold	1,083,320		996,650
Gross profit	$2,254,605		$2,078,700
Selling expenses	$821,200		$970,600
Administrative expenses	699,535		570,040
Total operating expenses	1,520,735		1,540,640
Income from operations	$733,870		$538,060
Other income	38,630		34,340
	$772,500		$572,400
Other expense (interest)	208,000		114,400
Income before income tax	$564,500		$458,000
Income tax expense	67,700		54,900
Net income	$496,800		$403,100

BligeInc.
ComparativeBalance Sheet
December 31,2014 and 2013
			Dec. 31, 2014		Dec. 31, 2013
Assets
Current assets
	Cash		$689,450		$405,030
	Temporaryinvestments		1,043,500		671,200
	Accounts receivable(net)		584,000		547,500
	Inventories		438,000		335,800
	Prepaid expenses		130,436		81,010
		Total current assets	$2,885,386		$2,040,540
Long-terminvestments			1,535,082		362,383
Property, plant, andequipment (net)			2,860,000		2,574,000
Total assets			$7,280,468		$4,976,923
Liabilities
Currentliabilities			$848,643		$178,748
Long-termliabilities
	Mortgage note payable,8%, due 2019		$1,170,000		$0
	Bonds payable, 8%, due2015		1,430,000		1,430,000
		Total long-term liabilities	$2,600,000		$1,430,000
Total liabilities			$3,448,643		$1,608,748
Stockholders'Equity
Preferred $0.70 stock,$40 par			$480,000		$480,000
Common stock, $10par			550,000		550,000
Retained earnings			2,801,825		2,338,175
	Total stockholders'equity		$3,831,825		$3,368,175
Total liabilities andstockholders' equity			$7,280,468		$4,976,923

Required:

Determine the following measures for 2014, rounding to onedecimal place, except for dollar amounts, which should be roundedto the nearest cent. Use the rounded answer of the requirement forsubsequent requirement, if required. Assume 365 days a year.

1. Workingcapital	$
2. Currentratio
3. Quickratio
4. Accountsreceivable turnover
5. Number of days'sales in receivables		days
6. Inventoryturnover
7. Number of days'sales in inventory		days
8. Ratio of fixedassets to long-term liabilities
9. Ratio ofliabilities to stockholders' equity
10. Number oftimes interest charges are earned
11. Number oftimes preferred dividends are earned
12. Ratio of netsales to assets
13. Rate earned ontotal assets		%
14. Rate earned onstockholders' equity		%
15. Rate earned oncommon stockholders' equity		%
16. Earnings pershare on common stock	$
17. Price-earningsratio
18. Dividends pershare of common stock	$
19. Dividendyield		%