EBOOK Measures of liquidity, Solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 70 on December 31, 2012 Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2012 Retained earnings, January 1 $2,200,050 $1,856,650 Net income 516,800 380,300 Dividends: (6,300) (6,300) On preferred stock (30,600) (30,600) On common stock 52,679,950 $2,200,050 Retained earnings, December 31 Marshall Inc Comnarative Income Statement ssion Locator=&inprogress=false eBook Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Sales $2,867,190 973,820 Cost of merchandise sold Gross profit Selling expenses $3,111,990 1,058,500 $2,053,490 $705,000 600,560 $1,305,560 $747,930 $1,893,370 $871,610 511,900 Administrative expenses $1,383,510 $509,860 32,540 Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense (110,400) 39,370 (200,000) $587,300 70,500 $516,800 $432,000 51,700 $380,300 Net income Chad My Work 1 more Check My Work uses remaining Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2011 20Y2 20Y1 Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets $562,200 850,900 554,800 408,800 106,356 $2,483,056 1,682,849 2,750,000 56,915,905 $567,090 939,750 518,300 321,200 113,420 $2,459,760 1,064,650 2,475,000 $5,999,410 Long-term investments Property, plant, and equipment (net) Total assets Liabilities TAM Llabilities Current liabilities $775,955 $1,459,360 $0 Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities Stockholders' Equity $1,120,000 1,380,000 $2,500,000 $3,275,955 1,380,000 $1,380,000 $2,839,360 Preferred $0.70 stock, $50 par Common stock, $10 par $450,000 510,000 2,679,950 $3,639,950 $6,915,905 $450,000 510,000 2,200,050 $3,160,050 $5,999,410 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Required: 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. Nurnber of days sales in receivables days 6. Inventory turnover 7. Number of days soles in inventory days 8. Ratio of fixed assets to long term flabilities days 8. Ratio of fixed assets to long-term Itabilities 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. Retum 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