Dec. 31, 20Y1 $ 595,680 987,110 547,500 335,800 119,140 $ 2,585,230 1,020,215 2,700,000 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 Dec. 31, 20Y2 Assets Current assets Cash $ 465,550 Marketable securities 704,610 Accounts receivable (net) 584,000 Inventories 438,000 Prepaid expenses 88,076 Total current assets $ 2,280,236 Long-term investments 1,999,774 Property, plant, and equipment 3,000,000 (net) Total assets $ 7,280,010 Liabilities Current liabilities $ 735,560 Long-term liabilities Mortgage note payable, 8 % $ 1,120,000 Bonds payable, 8 % 1,380,000 Total long-term liabilities $ 2,500,000 Total liabilities $ 3,235,560 Stockholders' Equity Preferred $ 0.70 stock, $ 50 par $ 500,000 Common stock, $ 10 par 570,000 Retained earnings 2,974,450 Total stockholders' equity $4,044,450 Total liabilities and stockholders' $ 7,280,010 equity $ 6,305,445 $ 1,369,895 $0 1,380,000 $1,380,000 $2,749,895 $500,000 570,000 2,485,550 $3,555,550 $ 6,305,445 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 days days 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 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 $ 55 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 $ 2,485,550 $ 2,111,350 Net income 547,200 432,500 Total $ 3,032,750 $ 2,543,850 Dividends On preferred stock $ 7,000 $7,000 On common stock 51,300 51,300 Total dividends $ 58,300 $ 58,300 Retained earnings, December 31 $ 2,974,450 $ 2,485,550 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 2012 2011 Sales $ 3,111,625 $ 2,866,890 Cost of goods sold 1,160,700 1,067,840 Gross profit $ 1,950,925 $ 1,799,050 Selling expenses $ 631,920 $ 777,250 Administrative expenses 538,295 456,480 Total operating expenses 1,170,215 1,233,730 Income from operations $ 780,710 $ 565,320 Other income 41,090 36,080 $ 821,800 $ 601,400 Other expense (interest) 200,000 110,400 Income before income tax $ 621,800 $ 491,000 Income tax expense 74,600 58,500 Net income $ 547,200 $ 432,500