5. Number of days' sales in receivables days 6. Inventory turnover 7. Number of days' sales in inventory days 8. Ratio of fixed assets to long-term liabilities ON Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 64 on December 31, 2012 Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2011 2012 2011 Retained earnings, January 1 $4,482,450 $3,794,250 Net income 1,064,000 777,100 Total $5,546,450 $4,571,350 Dividends: On preferred stock $13,300 513,300 On common stock 75,600 75,600 Total dividends $88,900 $88,900 Retained earnings, December 31 $5,457,550 $4,482,450 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 20Y2 2011 TELO Check My Work eBook Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 $5,866,280 2,053,490 55,404,940 1,889,210 Sales Cost of goods sold Gross pront Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue $3,812,790 $1,249,860 1,064,690 $2,314,550 $1,498,240 78,860 $1,577,100 368,000 $1,209,100 145,100 $3,515,730 $1,572,130 923,320 52,495,450 $1,020,280 65,120 $1,085,400 202,400 $883,000 105,900 $777,100 Other expense (interest) Income before income tax Income tax expense Net income $1,064,000 Check My Work Chap 11 eBook Comparative Balance Sheet December 31, 2012 and 2011 2012 2011 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventores Prepaid expenses $897,520 1,358,410 1,080,400 803,000 169,794 $4,309,124 3,188,466 5,980,000 $13,477,590 $1,165,700 1,931,730 1,014,700 613,200 233,140 $4,958,470 1,753,369 5,382,000 $12,093,839 Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities $1,390,040 Current liabilities $3,051,389 Long term fiabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term habilities Total liabilities $2,070,000 2,530,000 $4,600,000 $5,990,000 $0 2,530,000 $2,530,000 $5,581,389 Check My Work . v2.cengagenow.com/ilm/takeAssignment/takeAssignment Main.do?invoker-takeAssignmentSessionLocator Apps Google Docs D DYC Canvas DYC Email CengageNOW21 Nothing About Us Chap 17 eBook Total long-term liabilities $4,600,000 $2,530,000 Total liabilities $5,990,040 $5,581,389 Stockholders' Equity Preferred $0.70 stock, $50 par $950,000 $950,000 Common stock, $10 par 1,080,000 1,080,000 Retained earnings 5,457,550 4,482,450 Total stockholders' equity $7,487,550 $6,512,450 Total liabilities and stockholders' equity $13,477,590 $12,093,839 Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounded required. Assume 365 days a year, 1. Working capital 2,919,084 3.1 2. Current ratio 2.4 3. Quick ratio 5.6 4. Accounts receivable turnover days 5. Number of days' sales in receivables days 6. Inventory tumover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities Check My Work