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 2041 20Y2 2011 Retained earnings, January 1 Net income $1,305,300 292,000 $1,597,300 $1,102,200 225,700 Total $1,327,900 Dividends: On preferred stock On common stock $9,100 $9,100 13,500 13,500 Total dividends $22,600 Retained earnings, December 31 $22,600 $1,305,300 $1,574,700 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 $1,803,100 654,080 2011 $1,661,340 Sales Cost of goods sold Gross profit 601,750 $1,149,020 $1,059,590 $469,040 275,460 Selling expenses Administrative expenses Total operating expenses Income from operations $744,500 $315,090 20,110 Other revenue $376,390 320,620 $697,010 $452,010 23,790 $475,800 144,000 $331,800 39,800 $292,000 Other expense (interest) Income before income tax Income tax expense $335,200 79,200 $256,000 30,300 $225,700 Net income Net income $292,000 $225,700 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 20Y2 20Y1 Assets Current assets Cash $294,950 488,780 335,800