Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 57 on December 31, 2012 Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2022 and 2041 2012 2011 Retained earnings, January 1 Net income $3,474,350 820,800 $4,295,150 $2,924,750 599,100 Total $3,523,850 Dividends: On preferred stock On common stock Total dividends Retained earnings, December 31 $12,600 36,900 $12,600 36,900 $49,500 $4,245,650 $49,500 $3,474,350 2011 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 Sales $5,273,520 Cost of goods sold 1,819,160 Gross profit $3,454,360 Selling expenses $1,189,890 Administrative expenses 1,013,610 Total operating expenses $2,203,500 Income from operations $1,250,860 $4,858,760 1,673,630 $3,185,130 $1,478,270 868,190 $2,346,460 $838,670 Other revenue 65,840 $1,316,700 384,000 53,530 $892,200 211,200 $681,000 Other expense (interest) Income before income tax $932,700 Income tax expense 111,900 81,900 Net income $820,800 $599,100 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 de 2012 2011 Assets Current assets Cash Marketable securities Accounts receivable (net) $852,940 1,413,450 912,500 Inventories 569,400 $1,164,820 1,762,970 970,900 730,000 220,377 $4,849,067 1,540,798 5,760,000 Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) 170,590 $3,918,880 455,363 5,184,000 Total assets $12,149,865 $9,558,243 Liabilities Current liabilities $1,564,215 $1,903,893 Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities $2.160,000 2,640,000 $4,800.000 2,640,000 $2.640,000 $6,364,215 $4,543,893 Total liabilities Stockholders' Equity Preferred $0.70 stock, $40 par Common stock, $10 par $720,000 $720,000 820,000 820,000 Retained earnings 4,245,650 3,474,350 Total stockholders' equity $5,014,350 $5,785,650 $12,149,865 Total liabilities and stockholders' equity $9,558,243 Required: Determine the following measures for 2012, rounding to one decimal place, except for dollar amounts, which should be rounded the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year. 1. Working capital $ 3,284,852 2. Current ratio 3.1 3. Quick ratio 2.5 4. Accounts receivable turnover 5.6 65.2 days 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 2.8 130.4 days 8. Ratio of fixed assets to long-term liabilities 1.2 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 3.4 11. Asset turnover 0.5 12. Return on total assets 6.8 X 4 X 14.2 16.0 % % 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 9.9 X 5.8 3.2 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 65.2 days 6. Inventory turnover 130.4 days 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 6.8 x 12. Return on total assets 14.2 x 96 13. Return on stockholders' equity 16.0 x 14. Return on common stockholders' equity 15. Earnings per share on common stock 5.8 16. Price earnings ratio 17. Dividends per share of common stock 0.5 x 0.8 % 18. Dividend yield Che Wor 1. Subtract current liabilities from current assets. 2. Divide current assets by current liabilities. Check My Work 1 more Check My Work uses remaning Email instructor Save and Exit