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Chapter 17 Financial Statement Analysis873 PR 17-4A Me The comparative financial asures of liquidity, solvency, and profitability I common stock was $82.60 on December 31, 20Y2. of eceivabl 8.3 Marshall OBJ. 3, 4, 5 atements of Marshall Inc, are as follows. The market price of Marshall Incns Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 el Retained earnings, January1 $3,704,000 3,264,000 550,000 $4,304,000 3,814,000 On preferred stock 5 10,000 100,000 10,000 100,000 Total dividends 5 110,000 110,000 3,704,000 Retained earnings, December 31. $4,194,000 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Sales $10,850,000 $10,000,000 6,000,000 5.450,000 it $ 4850,000 $ 4,550,000 $ 2,170,000 2,000,000 1,500,000 Selling expenses Administrative expenses Total operating expenses.... Income from operations Other revenue 1,627,500 3,797.500 3.500,000 $1,052,500 1,050,000 20,000 S 1,152,000 1,070,000 120,000 Other expense (interest) Income before income tax ncome tax expense Net income 1,020,000 950,000 600,000 550,000 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y 1 Assets Current assets $1,050,000 950,000 Marketable securities Accounts receivable (net) 380,000 Inventories Prepaid expenses $2,270,000 800,000 5,184,000 $8,254,000 $2,464,000 Total current assets Long-term investments Property, plant, and equipment (net) Total assets 5,760,000 9,024,000 Liabilities $ 880,000 800,000 Current liabilities.... Long-term liabilities: Mortgage note payable, 6% Bonds payable, 4% 200,000 3,000,000 3,000,000 $3,200,000 3,000,000 $ 4,080,000 $3,800,000 $ 250,000 250,000 3,704,000 Total long-term liabilities Total liabilities Stockholders Equity Retained earnings Total stockholders' equity Total liabilities and stockholders' equity. . . . . . . 4,194,000 $4,944,000 9,024,000 4,454,000 $8,254,000 Continued) Chapter 17 Financial Statement Analysis Determine the following measures for 20y2, rounding to one decimal place, cenages, except for per-share amounts: including per Per- 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 AB Current Liabilities 5880,000 Current Assets- - Calculated Value 1. Working capital: $2,464,000 $1,584,000 Ratio NumeratorDenominatorCalculated Value 80,0001 : 28 ] 2. Current ratio $ 2,464,000 3. Quick ratio S1,936,000 880,000 2.2 4. Accounts receivable turnover 10,850,000 |$ 5,425,000 2.0 5. Number of days sales in receivables 366 28 29 6. Inventory turnover 30 7. Number of days 32 sales in inventory 8. Ratio of fixed assets to 34 35 long-term liabilities Pr. 17-4A Ready e@' Type here to search