Measures of liquidity, Solvency and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 62 on December 31, 20Y2.

Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $ 2,842,400 $ 2,417,000 Net income 624,800 495,000 Total $3,467,200 $ 2,912,000 Dividends: On preferred stock $ 8,400 $ 8,400 On common stock 61,200 61,200 Total dividends $ 69,600 $ 69,600 Retained earnings, December 31 $ 3,397,600 $ 2,842,400

Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $ 4,062,450 $ 3,742,900 Cost of goods sold 1,554,900 1,430,510 Gross profit $ 2,507,550 $ 2,312,390 Selling expenses $ 829,790 $ 1,021,540 Administrative expenses 706,860 599,950 Total operating expenses 1,536,650 1,621,490 Income from operations $ 970,900 $ 690,900 Other revenue 51,100 44,100 $ 1,022,000 $ 735,000 Other expense (interest) 312,000 172,000 Income before income tax $ 710,000 $ 563,000 Income tax expense 85,200 68,000 Net income $ 624,800 $ 495,000

Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Current assets Cash $ 828,480 $ 529,820 Marketable securities 1,253,920 877,990 Accounts receivable (net) 788,400 744,600 Inventories 584,000 452,600 Prepaid expenses 156,744 105,960 Total current assets $ 3,611,544 $ 2,710,970 Long-term investments 1,921,416 40,158 Property, plant, and equipment (net) 4,290,000 3,861,000 Total assets $ 9,822,960 $ 6,612,128 Liabilities Current liabilities $ 1,245,360 $ 339,728 Long-term liabilities Mortgage note payable, 8 % $ 1,750,000 $ 0 Bonds payable, 8 % 2,150,000 2,150,000 Total long-term liabilities $ 3,900,000 $ 2,150,000 Total liabilities $ 5,145,360 $ 2,489,728 Stockholders' Equity Preferred $ 0.70 stock, $ 50 par $ 600,000 $ 600,000 Common stock, $ 10 par 680,000 680,000 Retained earnings 3,397,600 2,842,400 Total stockholders' equity $ 4,677,600 $ 4,122,400 Total liabilities and stockholders' equity $ 9,822,960 $ 6,612,128

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.

10. Times interest earned 11. Asset turnover 12. Return on total assets % 13. Return on stockholders equity %