Measures of liquidity, Solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 61 on December 31, 2012, Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $1,706,625 $1,447,375 296,500 Net Income 364,000 Total $2,070,625 $1,743,875 Dividends: $11,900 $11,900 On preferred stock On common stock 25,350 25,350 $37,250 Total dividends Retained earnings, December 31 $37,250 $1,706,625 $2,033,375 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 Sales $2,052,060 811,960 Cost of goods sold Gross profit $2,227,230 882,570 $1,344,660 5435,960 371,380 $1,240,100 $531,950 Selling expenses Administrative expenses 312,410 Total operating expenses $807,340 $846,360 Income from operations Other revenue $537,320 $395,740 28,280 25,260 $565,600 $421,000 84,000 152,000 Other expense (interest) Income before income tax Income tax expense Net Income $337,000 $413,600 49,600 40,500 $364,000 $296,500 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041