Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 55 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 Net income Total Dividends: $ 1,571,000 336,000 $1,907,000 $ 1,335,500 273,500 $1,609,000 $5,600 32,400 $38,000 $1,869,000 $5,600 32,400 $38,000 $ 1,571,000 On preferred stock On common stock Total dividends Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 $2,009,010 728,690 $1,280,320 $577,890 339,400 $917,290 $363,030 23,170 $ 386,200 75,200 $311,000 37,500 $273,500 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue $ 2,180,510 792,050 $1,388,460 $ 484,140 412,410 $896,550 $491,910 25,890 $517,800 136,000 $ 381,800 45,800 $336,000 Other expense (interest) Income before income tax Income tax expense Net income Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Y1 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses $ 496,180 750,980 386,900 292,000 93,880 $ 2,019,940 953,160 1,870,000 $ 4,843,100 321,010 531,970 365,000 219,000 64,200 $ 1,501,180 477,225 1,683,000 $ 3,661,405 Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities $ 594,100 $470,405 Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% $760,000 940,000 $ 1,700,000 $ 2,294,100 940,000 $940,000 $ 1,410,405 Total long-term liabilities Total liabilities Stockholders' Equity $ 320,000 320,000 360,000 1,571,000 $2,549,000 $ 2,251,000 $ 4,843,100 $ 3,661,405 Preferred $0.70 stock, $40 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 360,000 1,869,000 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. 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivableturnover 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 days days
