Chapter 17 HW Assignments Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 59 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 Retained earnings, January 1 Net income Dividends: On preferred stock 20Y2 20Y1 $1,423,500 $1,214,200 312,400 248,700 (10,500) (10,500) On common stock (28,900) (28,900) Retained earnings, December 31 $1,696,500 $1,423,500 Chapter 17 HW Assignments Sales Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations 2012 20Y1 $2,045,825 $1,884,950 677,440 623,240 $1,368,385 $1,261,710 $491,150 $585,590 418,385 343,920 $909,535 $929,510 $458,850 $332,200 Other revenue and expense: Other revenue 24,150 21,200 Other expense (interest) 128,000) (70,400) Income before income tax expense $355,000 $283,000 Income tax expense 42,600 34,300 Net income $312,400 $248,700 Chapter 17 HW Assignments Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Assets 20Y2 20Y1 $384,390 $322,930 581,790 535,130 357,700 335,800 262,800 204,400 72,725 64,590 $1,659,405 $1,462,850 859,945 377,073 1,920,000 1,728,000 $4,439,350 $3,567,923 Liabilities $502,850 $624,423 Property, plant, and equipment (net) Total assets Current liabilities Chapter 17 HW Assignments Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities: 1,920,000 1,728,000 $4,439,350 $3,567,923 Liabilities $502,850 $624,423 Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities. $720,000 $0 880,000 880,000 $1,600,000 $880,000 $2,102,850 $1,504,423 Stockholders' Equity Preferred $0.70 stock, $20 par $300,000 $300,000 > Common stock, $10 par 340,000 340,000 Retained earnings 1,696,500 1,423,500 Total stockholders' equity $2,336,500 $2,063,500 Total liabilities and stockholders' equity $4,439,350 $3,567,923 Required: Determine the following mascurar for 20yr. 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. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover days 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 % 96 96 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 % % % %