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, 2072. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $3,584,925 Net Income 840,000 $3,033,475 621,300 $3,654,775 Total $4,424,925 Dividends: On preferred stock On common stock Total dividends $13,300 56,550 $69,850 $4,355,075 $13,300 56,550 $69,850 $3,584,925 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 2012 $5,321,700 1,817,700 $3,504,000 2011 Sales $4,903, 100 Cost of goods sold 1,672,280 Gross profit $3,230,820 2011 $4,903,100 1,672,280 $3,230,820 $1,510,250 Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 Sales $5,321,700 Cost of goods sold 1,817,700 Gross profit $3,504,000 Selling expenses $1,234,240 Administrative expenses 1,051,390 Total operating expenses $2,285,630 Income from operations $1,218,370 Other revenue 64,130 $1,282,500 Other expense interest) 328,000 Income before income tax $954,500 Income tax expense 114,500 Net income $840,000 886,980 $2,397,230 $833,590 53,210 $886,800 180,800 $ 706,000 84,700 $621,300 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 20Y2 2011 Assets Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 2012 20Y1 Assets Current assets Cash $884,170 $875,720 Marketable securities 1,451,200 Accounts receivable (net) 1,338,210 912,500 861,400 Inventories 686,200 525,600 Prepaid expenses 167,281 175,140 Total current assets $3,988,361 $3,889,060 Long-term investments 2,463,282 1,168,440 Property, plant, and equipment (net) 4,920,000 4,428,000 $9,485,500 Total assets $11,371,643 Liabilities Current liabilities $1,286,568 $2,010,575 Long-term liabilities: $0 Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities $1,840,000 2,260,000 $4,100,000 2,260,000 $2,260,000 Total liabilities $5,386,568 $4,270,575 Stockholders' Equity $760,000 Preferred $0.70 stock, $40 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Required: 870,000 4,355,075 $5,985,075 $760,000 870,000 3,584,925 $5,214,925 $9,485,500 $11,371,643 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 receivable turnover 5. Number of days' sales in receivables days 6. Inventory turnover 7. Number of days' sales in inventory days B. 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 Determine the following measures for 2012, 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 receivable turnover 5. Number of days' sales in receivables days days 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 inter earned 11. Asset turnover 9 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 X 90 18. Dividend yield