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 Data For the year Ended December 31, 2011 and 2010 (in millions) 2011 Income statement data: Sales $3,050 Operating income (EBIT) 296 Interest expense 84 Net income 192 Other data: Average number of common shares outstanding 41.3 Total dividends paid $ 50

2010 $3,204 341 72 206 51.4 58

Required: (a) Calculate return on investment, based on net income and average total assets, for 2011 and 2010.(Round your intermediate calculations to two decimal places. Round your answers to 1 decimal 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 Return on equity % 2010 %

(c) Calculate working capital and the current ratio for each of the past three years. (Round your answers to 1 decimal place. Enter working capital in millions of dollars. Omit the "$" sign in your response.) 2011 Working capital Current ratio $ 2010 $ 2009 $

(d) Calculate earnings per share for 2011 and 2010. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) 2011 Earnings per share $ 2010 $

(e) If Wiper's stock had a price/earnings ratio of 13 at the end of 2011, what was the market price of the stock? (Round your intermediate calculations to two decimal places. Round your answer to 2 decimal 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 price calculated 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 two decimal places. Round your answer to the nearest whole percent. Omit the "%" sign in your response.) Dividend payout ratio %

(h) Assume that accounts receivable at December 31, 2011, totaled $309 million. Calculate the number of days' sales in receivables at that date. Use 365 days a year. (Do not round intermediate calculations 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 your answers to 1 decimal place. Omit the "%" sign in your response.) 2011 Debt ratio Debt/equity ratio % % 2010 % %

(j) Calculate the times interest earned factor for 2011 and 2010. (Round your answers to 1 decimal place.) 2011 Times interest earned 2010