Marshall Inc Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2011 2012 1 20Y1 2 Retained earings, January 1 $3,704,000.00 3 Net income 600,000.00 $3,264,000.00 550,000.00 $3,814,000.00 4 Total $4,304.000.00 5 Dividends: On preented stock $10,000.00 $10,000.00 2 On common stock 100,000.00 100,000.00 8 Total dividends $110,000.00 $110,000.00 9. Retained earnings, December 31 S4.194,000.00 $3,704,000.00 Instructions Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 1 20Y2 20Y1 2 Sales $10,850,000.00 $10,000,000.00 5,450,000.00 3 Cost of goods sold 4 Gross profit 6,000,000.00 $4,850,000.00 $2,170,000.00 -$4.550,000.00 $2,000,000.00 5 Selling expenses 6 Administrative expenses 1.627,500.00 1,500,000.00 $3,500,000.00 7 Total operating expenses 8 Income from operations 9 Other income $3,797,500.00 $1,052,500.00 $1,050,000.00 99,500.00 20,000.00 10 $1.152,000.00 $1,070,000.00 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 eBook Calculator Instructions 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 13 Income tax expense 420,000.00 400,000.00 14 Net income $600,000.00 $550,000.00 le to Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 1 20Y2 20Y1 2 Assets 3 Current assets: 4 Cash $1,050,000.00 $950,000.00 . Instructions December 31, 20Y2 and 2041 1 2012 2011 2 Assets 3 Current assets: e 4 Cash $1,050,000.00 $950,000.00 5 Marketable securities 301,000.00 420,000.00 585,000.00 500,000.00 6 Accounts receivable (net) 7 Inventories 420,000.00 380,000.00 8 Prepaid expenses 108,000.00 20,000.00