57 on December 31, 2012 Measures of liquidity, Solvency and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $ 4,790,600 $ 4,044,600 Net Income 1,021,200 828,400 Total $ 5,811,800 $ 4,873,000 Dividends On preferred stock $ 14,000 $ 14,000 On common stock 68,400 68,400 Total dividends $ 82,400 $ 82,400 Retained earnings, December 31 $5,729,400 $4,790,600 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 $ 6,591,900 2,180,510 $ 4,411,390 20Y1 Sales Cost of goods sold Gross profit $6,073,480 2,006,070 $ 4,067,410 RESSynmentMain.doinvokere&take AssignmentSessionLocator Sinprogress false eBook Calculator Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 Sales $ 6,591,900 Cost of goods sold 2,180,510 Gross profit $ 4,411,390 Selling expenses $ 1,589,820 Administrative expenses 1,354,300 Total operating expenses Income from operations Other income 2,006,070 1,880,130 ,104,210 1,083,070 59,130 Other expense interest) 384,000 52,200 211,200 Income before income tax 160,500 Income tax expense Net Income 941,000 112,600 828,400 02, Comparative Balance December 31, 20Y2 PTBVIOUS Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 Dec 31, 2012 Dec 31, 2011 Assets $ 1,149,390 Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses $933,310 1,546,640 1,065,800 657,000 1,739,620 1,131,500 846,800 217,458 $5,084,768 3,800,152 5,280,000 $ 14,164,920 Total current assets Long-term investments Property, plant, and equipment (net) Total assets $10,705,876 $ 1,495,520 $1,135,276 Liabilities Current liabilities Long-term liabilities Mortgage note payable, 8 % Bonds payable, 8 % Total long-term liabilities Total liabilities Stockholders' Equity $ 2,160,000 2,640,000 $ 4,800,000 $ 6,295,520 2,640,000 $ 2,640,000 3,775,276 ALBA Check My Work Previous TU Stockholders' Equity Preferred $ 0.70 stock, $ 50 par Common stock, $ 10 par Retained earnings $1,000,000 1,140,000 5,729,400 $ 7,869,400 $ 1,000,000 1,140,000 4,790,600 Total stockholders' equity $ 6,930,600 Total liabilities and stockholders' equity $ 14,164,920 $ 10,705,876 Required: Determine the following measures for 2012, 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. Worlding capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity tion) eBook Calculator Required: Determine the following measures for 2012, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rou answer of the requirement for subsequent requirement, if required. Assume 365 days a year. 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield Check My Work Pres