Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Dec. 31, 20Y1 Dec. 31, 20Y2 Assets Current assets $416,270 689,820 423,400 262,800 83,250 $

image text in transcribedimage text in transcribedimage text in transcribed

Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Dec. 31, 20Y1 Dec. 31, 20Y2 Assets Current assets $416,270 689,820 423,400 262,800 83,250 $ 1,875,540 358,940 2,340,000 $4,574,480 Cash Marketable securities Accounts recelvable (net) Inventories Prepaid expenses $450,580 681,960 452,600 335,800 85,245 $2,006,185 1,076,478 2,600,000 $5,682,663 Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities Current liabilities $691,788 $ 865,355 Long-term liabilities 900,000 1,100,000 $2,000,000 $2,691,788 Mortgage note payable, 8 % 1,100,000 $ 1,100,000 $ 1,965,355 Bonds payable, 8 % Total long-term liabilities Total liabilities Stockholders' Equity $ 380,000 430,000 2,180,875 $2,990,875 $5,682,663 Preferred $0.70 stock, $20 par Common stock, $10 par Retained earnings $ 380,000 430,000 1,799,12.5 $2,609,125 $4,574,480 Total stockholders' equity Total liabilities and stockholders' equity Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, whic 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. Number of days' sales in receivables 1,314,397 2.9 2.3 5.9 61.9 days 5.9 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 61.9 days 117.7days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Performance Audit Report Property Assessment Division Department Of Revenue

Authors: Montana Legislature Office Of The L

1st Edition

1019260211, 978-1019260210

More Books

Students also viewed these Accounting questions