GRUMSign in eBook Squidity Survey PTUM The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 64 on December 31 2092 Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 2012 20Y1 Retained earnings, January 1 $2,209,825 $1,858,475 489,600 380,600 Net income Dividends: On preferred stock On common stock (6,300) (22,950) $2,670,175 (6,300) (22,950) $2,209,825 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Sales $2,683,640 $2,912,700 1,086,240 Cost of merchandise sold 999,340 - Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 20Y2 2011 Sales $2,912,700 $2,683,640 999,340 1,086,240 $1,826,460 $1,684,300 $610,570 $747,360 520,110 438,930 Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense $1,130,680 $1,186,290 $695,780 $498,010 31,790 36,620 (176,000) $556,400 (96,800) $433,000 Income tax expense 66,800 52,400 Net Income $489,600 $380,600 Marshall Inc. Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2011 2012 2011 Assets Current assets: Cash $519,430 $517,890 786,160 858,210 525,600 496,400 394,200 98,272 306,600 103,580 Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% $2,323,662 1,790,653 2,420,000 $2,282,680 1,106,823 2,178,000 $6,534,315 55,567,503 $704,140 $1,187,678 $0 $990,000 1,210,000 1,210,000 arch LO eBook Total long-term liabilities $2,200,000 $2,904,140 $1,210,000 $2,397,678 $450,000 $450,000 Total liabilities Stockholders' Equity Preferred $0.70 stock, $50 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 510,000 510,000 2,209,825 2,670,175 $3,630,175 $3,169,825 $6,534,315 $5,567,503 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. 1,619,522 1. Working capital 2. Current ratio 3.3 3. Quick ratio 2.6 5.7 4. Accounts receivable turnover S. Number of days' sales in receivables 6. Inventory turnover 64 days 3.1 7. Number of days' sales in Inventory 117.7 days 200 10. Times Interest earned 4.2 X 11. Asset turnover 0.5 X 12. Return on total assets 7.5 X % 13. Return on stockholders' equity X % 14. Return on common stockholders' equity X % 15. Earnings per share on common stock $ 16. Price-earnings ratio X 17. Dividends per share of common stock 18. Dividend yield X %