Blige Inc. Comparative Balance Sheet December 31, 2014 and 2013 Dec. 31, 2014 Dec. 31, 2013 Assets Current assets Cash $199,380 $240,410 Temporary investments 301,760 398,400 Accounts receivable (net) 211,700 197,100 Inventories 160,600 116,800 Prepaid expenses 37,712 48,080 Total current assets $911,152 $1,000,790 Long-term investments 695,168 468,163 Property, plant, and equipment (net) 1,080,000 972,000 Total assets $2,686,320 $2,440,953 Liabilities Current liabilities $293,920 $633,353 Long-term liabilities Mortgage note payable, 8%, due 2019 $400,000 $0 Bonds payable, 8%, due 2015 500,000 500,000 Total long-term liabilities $900,000 $500,000 Total liabilities $1,193,920 $1,133,353 Stockholders' Equity Preferred $0.70 stock, $20 par $180,000 $180,000 Common stock, $10 par 210,000 210,000 Retained earnings 1,102,400 917,600 Total stockholders' equity $1,492,400 $1,307,600 Total liabilities and stockholders' equity $2,686,320 $2,440,953 Required: Determine the following measures for 2014, 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 $ [removed] 2.   Current ratio [removed] 3.   Quick ratio [removed] 4.   Accounts receivable turnover [removed] 5.   Number of days' sales in receivables [removed] days 6.   Inventory turnover [removed] 7.   Number of days' sales in inventory [removed] days 8.   Ratio of fixed assets to long-term liabilities [removed] 9.   Ratio of liabilities to stockholders' equity [removed] 10.   Number of times interest charges are earned [removed] 11.   Number of times preferred dividends are earned [removed] 12.   Ratio of net sales to assets [removed] 13.   Rate earned on total assets [removed] % 14.   Rate earned on stockholders' equity [removed] % 15.   Rate earned on common stockholders' equity [removed] % 16.   Earnings per share on common stock $ [removed] 17.   Price-earnings ratio [removed] 18.   Dividends per share  of common stock $ [removed] 19.   Dividend yield [removed] % .

1. Blige Inc.
Comparative Balance Sheet
December 31, 2014 and 2013
Dec. 31, 2014
Dec. 31, 2013
Assets
Current assets
Cash
$199,380
$240,410
Temporary investments
301,760
398,400
Accounts receivable (net)
211,700
197,100
Inventories
160,600

2. 116,800
Prepaid expenses
37,712
48,080
Total current assets
$911,152
$1,000,790
Long-term investments
695,168
468,163
Property, plant, and equipment (net)
1,080,000
972,000
Total assets
$2,686,320
$2,440,953
Liabilities
Current liabilities
$293,920
$633,353

3. Long-term liabilities
Mortgage note payable, 8%, due 2019
$400,000
$0
Bonds payable, 8%, due 2015
500,000
500,000
Total long-term liabilities
$900,000
$500,000
Total liabilities
$1,193,920
$1,133,353
Stockholders' Equity
Preferred $0.70 stock, $20 par
$180,000
$180,000
Common stock, $10 par

4. 210,000
210,000
Retained earnings
1,102,400
917,600
Total stockholders' equity
$1,492,400
$1,307,600
Total liabilities and stockholders' equity
$2,686,320
$2,440,953
Required:
Determine the following measures for 2014, 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
$
[removed]
2.
Current ratio
[removed]

5. 3.
Quick ratio
[removed]
4.
Accounts receivable turnover
[removed]
5.
Number of days' sales in receivables
[removed]
days
6.
Inventory turnover
[removed]
7.
Number of days' sales in inventory
[removed]
days
8.
Ratio of fixed assets to long-term liabilities
[removed]
9.
Ratio of liabilities to stockholders' equity
[removed]

6. 10.
Number of times interest charges are earned
[removed]
11.
Number of times preferred dividends are earned
[removed]
12.
Ratio of net sales to assets
[removed]
13.
Rate earned on total assets
[removed]
%
14.
Rate earned on stockholders' equity
[removed]
%
15.
Rate earned on common stockholders' equity
[removed]
%
16.
Earnings per share on common stock
$
[removed]

7. 17.
Price-earnings ratio
[removed]
18.
Dividends per share
of common stock
$
[removed]
19.
Dividend yield
[removed]
%