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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 $ $67$ on December $31,20$Y$2.$

Marshall Inc.

Comparative Retained Earnings Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Retained earnings, January $1$ $$1,803,200$ $$1,539,800$

Net income $425,600315,400$

Dividends:

On preferred stock $(13,300)(13,300)$

On common stock $(38,700)(38,700)$

Retained earnings, December $31$ $$2,176,800$ $$1,803,200$

Marshall Inc.

Comparative Income Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Sales $$2,452,800$ $$2,259,930$

Cost of merchandise sold $927,830853,600$

Gross profit $$1,524,970$ $$1,406,330$

Selling expenses $$493,320$ $$621,870$

Administrative expenses $420,230365,220$

Total operating expenses $$913,550$ $$987,090$

Income from operations $$611,420$ $$419,240$

Other revenue and expense:

Other revenue $32,18026,760$

Other expense $($interest$)(160,000)(88,000)$

Income before income tax expense $$483,600$ $$358,000$

Income tax expense $58,00042,600$

Net income $$425,600$ $$315,400$

Marshall Inc.

Comparative Balance Sheet

December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Assets

Current assets:

Cash $$548,490$ $$446,080$

Marketable securities $830,140739,210$

Accounts receivable $($net$)452,600423,400$

Inventories $335,800262,800$

Prepaid expenses $103,76689,220$

Total current assets $$2,270,796$ $$1,960,710$

Long$-$term investments $1,004,124661,513$

Property, plant, and equipment $($net$)2,400,0002,160,000$

Total assets $$5,674,920$ $$4,782,223$

Liabilities

Current liabilities $$688,120$ $$1,069,023$

Long$-$term liabilities:

Mortgage note payable, $8\%$ $$900,000$ $$0$

Bonds payable, $8\%1,100,0001,100,000$

Total long$-$term liabilities $$2,000,000$ $$1,100,000$

Total liabilities $$2,688,120$ $$2,169,023$

Stockholders' Equity

Preferred $$0\mathrm{.}70$ stock, $$20$ par $$380,000$ $$380,000$

Common stock, $$10$ par $430,000430,000$

Retained earnings $2,176,8001,803,200$

Total stockholders' equity $$2,986,800$ $$2,613,200$

Total liabilities and stockholders' equity $$5,674,920$ $$4,782,223$

Required:

Determine the following measures for $20$Y$2,$ 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 $fill in the blank $1$

$2.$ Current ratio fill in the blank $2$

$3.$ Quick ratio fill in the blank $3$

$4.$ Accounts receivable turnover fill in the blank $4$

$5.$ Number of days' sales in receivables fill in the blank $5$

days

$6.$ Inventory turnover fill in the blank $6$

$7.$ Number of days' sales in inventory fill in the blank $7$

days

$8.$ Ratio of fixed assets to long$-$term liabilities fill in the blank $8$

$9.$ Ratio of liabilities to stockholders' equity fill in the blank $9$

$10.$ Times interest earned fill in the blank $10$

$11.$ Asset turnover fill in the blank $11$

$12.$ Return on total assets fill in the blank $12$

$\%$

$13.$ Return on stockholders$$ equity fill in the blank $13$

$\%$

$14.$ Return on common stockholders$$ equity fill in the blank $14$

$\%$

$15.$ Earnings per share on common stock $fill in the blank $15$

$16.$ Price$-$earnings ratio fill in the blank $16$

$17.$ Dividends per share of common stock $fill in the blank $17$

$18.$ Dividend yield fill in the blank $18$

$\%$