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Presented here are summarized data from the balance sheets and income statements of Wiper, Inc.: WIPER, INC. Condensed Balance Sheets December 31, 2011, 2010, 2009 (in millions) 2010 $ 980 $ 2011 Curr ent asset s Othe r asset s $ 677 2009 662 2,413 2,112 1,547 $ 3,090 $ 3,092 $ 2,209 Curr ent liabiliti es Long -term liabiliti es Own ers' equity $ 562 $ 883 $ 639 1,521 1,080 744 1,007 1,129 826 $ 3,090 $ 3,092 $ 2,209 WIPER, INC Selected Income Statement and Other D
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  Presented here are summarized data from the balance sheets and income statements of Wiper, Inc.:WIPER, INC.Condensed Balance SheetsDecember 31, 2011, 2010, 2009(in millions)2011 2010 2009Currentassets$ 677 $ 980 $ 662Otherassets2,413 2,112 1,547$ 3,090 $ 3,092 $ 2,209Currentliabilities$ 562 $ 883 $ 639Long-termliabilities1,521 1,080 744Owners'equity1,007 1,129 826$ 3,090 $ 3,092 $ 2,209WIPER, INCSelected Income Statement and Other DataFor the year Ended December 31, 2011 and 2010(in millions)2011 2010Income statement data:Sales $ 3,050 $ 3,204Operating income (EBIT) 296 341Interest expense 84 72Net income 192 206Other data:Average number of common shares outstanding 41.3 51.4Total dividends paid $ 50 $ 58 Required:   (a)  Calculate return on investment, based on net income and average total assets, for 2011 and2010. (Round your intermediate calculations to two decimal places. Round your answers to 1decimal place. Omit the % sign in your response.)  2011 2010  Return on Investment% % (b) Calculate return on equity for 2011 and 2010. (Round your answers to 1 decimal place. Omit the % sign in your response.)  2011 2010Return on equity% % (c) Calculate working capital and the current ratio for each of the past three years. (Round youranswers to 1 decimal place. Enter working capital in millions of dollars. Omit the $ sign inyour response.)  2011 2010 2009Working capital$ $ $Current ratio (d) Calculate earnings per share for 2011 and 2010. (Round your answers to 2 decimal places. Omitthe $ sign in your response.)  2011 2010Earnings per share$ $ (e)  If Wiper's stock had a price/earnings ratio of 13 at the end of 2011, what was the market price of thestock? (Round your intermediate calculations to two decimal places. Round your answer to 2decimal places. Omit the $ sign in your response.)  Market price$ (f)  Calculate the cash dividend per share for 2011 and the dividend yield based on the market pricecalculated in requirement (e). (Round your intermediate calculations to two decimal places.Round your answers to 2 decimal places. Omit the $ and % signs in your response.)  Cash dividends per share$Dividend yield % (g) Calculate the dividend payout ratio for 2011. (Round your intermediate calculations to twodecimal places. Round your answer to the nearest whole percent. Omit the % sign in yourresponse.)  Dividend payout ratio % (h)  Assume that accounts receivable at December 31, 2011, totaled $309 million. Calculate the numberof days' sales in receivables at that date. Use 365 days a year. (Do not round intermediatecalculations and round final answer to nearest whole number.)    Number of days (i) Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2011 and 2010. (Round youranswers to 1 decimal place. Omit the % sign in your response.)  2011 2010Debt ratio % %Debt/equity ratio % % (j) Calculate the times interest earned factor for 2011 and 2010. (Round your answers to 1 decimalplace.)  2011 2010Times interest earned

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