Liabilities Current liabilities $ 595,360 $ 403,578 Long-term liabilities Mortgage note payable, 8 % $760,000 $0 Bonds payable, 8 % 940,000 940,000 Total long-term liabilities $1,700,000 $ 940,000 Total liabilities $ 2,295,360 $ 1,343,578 Stockholders' Equity Preferred $ 0,70 stock, $ 20 par $ 320,000 $ 320,000 Common stock, $ 10 par 360,000 360,000 Retained earnings 1,870,400 1,569,600 Total stockholders' equity $ 2,550,400 $ 2,249,600 Total liabilities and stockholders' equity $ 4,845,760 $ 3,593,178 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. Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 Dec. 31, 2012 Assets Dec. 31, 2011 $475,740 $ 311,220 515,740 720,040 Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses 386,900 365,000 292,000 219.000 90,008 62,240 Total current assets $ 1,964,688 $ 1,473,200 841,072 283,978 Long-term investments Property, plant, and equipment (net) 2,040,000 1,836,000 Total assets $ 4,845,760 $ 3,593,178 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 2012 2011 $ 2,218,105 $ 2,043,690 766,500 Sales Cost of goods sold Gross profit Selling expenses 705,180 $ 1,338,510 $ 1,451,605 $ 614,550 $ 515,420 439,055 Administrative expenses 360,930 954,475 975,480 Total operating expenses Income from operations Other income $ 497,130 S 363,030 23,170 26,170 $ 523,300 $ 386,200 Other expense interest) 136,000 75,200 Income before income tax $ 387,300 $ 311,000 Income tax expense 46,500 37,400 Net income $ 340,800 $ 273,600 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 $ 53 on December 31, 2012 Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 Retained earnings, January 1 $ 1,569,600 Net Income 340,800 2011 $ 1,336,000 273,600 Total $ 1,910,400 5 1.609,600 Dividends On preferred stock $11,200 $ 11,200 On common stock 28,800 28,800 Total dividends $ 40,000 $ 40,000 $ 1,870,400 $ 1,569,600 Retained earnings, December 31 $ 1,369,328 1. Working capital 3.3 2. Current ratio 2.5 3. Quick ratio 5.9 4. Accounts receivable tumover 64 X days 5. Number of days' sales in recevables 3 6. Inventory turnover days 7. Number of days' sales in inventory 1.2 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 3.8 10. Times interest earned 11. Asset turnover I % 12. Return on total assets % 13 Return on stockholders' equity % 14. Return on common stockholders' equity $ 15. Earnings per share on common stock 16. Pridereamings ratio s 17. Dividends per Share of common stock % NA
