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Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 65 on December 31, 20Y Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 20Y1 Retained earnings, January 1 $2,318,800 $1,949,800 Net income 532,800 399,400 Dividends: On preferred stock (8,400) On common stock (8,400) (22,000) $2,821,200 (22,000) Retained earnings, December 31 $2,318,800 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $2,941,900 $2,710,540 Cost of merchandise sold 1,122,010 1,032,250 Gross profit $1,819,890 $1,678,290 Selling expenses $565,420 $720,710 Administrative expenses 481,650 423,280 $1,047,070 $1,143,990 Total operating expenses Income from operations $772,820 $534,300 Other revenue and expense: Other revenue 40,680 (208,000) 34,100 (114,400) Other expense (interest) Income before income tax expense $605,500 72,700 $454,000 54,600 Income tax expense Net income $532,800 $399,400 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 20Y2 20Y1 Assets Current assets: Cash $551,160 $539,120 Marketable securities 834,190 893,390 Accounts receivable (net) 584,000 547,500 Inventories 438,000 335,800 Prepaid expenses 104,282 107,820 Total current assets $2,511,632 Long-term investments 1,945,648 $2,423,630 913,661 2,574,000 Property, plant, and equipment (net) 2,860,000 Total assets $7,317,280 $5,911,291 Liabilities Current liabilities $866,080 $1,132,491 Long-term liabilities: Mortgage note payable, 8% $1,170,000 $0 1,430,000 1,430,000 Bonds payable, 8% Total long-term liabilities $2,600,000 $1,430,000 Total liabilities $3,466,080 $2,562,491 Stockholders' Equity Preferred $0.70 stock, $40 par $480,000 $480,000 Common stock, $10 par 550,000 550,000 2,821,200 Retained earnings 2,318,800 Total stockholders' equity $3,851,200 $3,348,800 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 %
