Accounting

Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 67 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $3,595,450 $3,035,750 Net income 851,200 621,800 Dividends: On preferred stock (10,500) (10,500) On common stock (51,600) (51,600) $4,384,550 Retained earnings, December 31 $3,595,450 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 20Y1 Sales $4,847,930 $4,466,640 Cost of merchandise sold 1,594,320 1,466,770 Gross profit $3,253,610 $2,999,870 Selling expenses $1,112,980 $1,377,430 Administrative expenses 948,100 808,960 $2,186,390 $2,061,080 $1,192,530 $813,480 Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net income 62,770 (288,000) 51,920 (158,400) $707,000 85,200 $967,300 116,100 $851,200 $621,800 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 2042 20Y1 Assets Current assets: Cash $726,520 $966,540 1,099,590 1,601,690 861,400 642,400 Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments 810,300 496,400 193,310 137,446 $3,467,356 $4,068,240 1,966,297 3,002,834 Property, plant, and equipment (net) 4,320,000 3,888,000 Total assets $10,790,190 $9,922,537 Liabilities Current liabilities $1,195,640 $2,737,087 Long-term liabilities: Mortgage note payable, 8% $1,620,000 $0 Bonds payable, 8% 1,980,000 1,980,000 Total long-term liabilities $3,600,000 $1,980,000 Total liabilities $4,795,640 $4,717,087 Stockholders' Equity Preferred $0.70 stock, $50 par $750,000 $750,000 Common stock, $10 par 860,000 860,000 Retained earnings 4,384,550 3,595,450 Total stockholders' equity $5,994,550 $5,205,450 Total liabilities and stockholders' equity $10,790,190 $9,922,537 Required: Determine the following measures for 20Y2, 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 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 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 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