Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 63 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2011 2012 2011 Retained earnings, January 1 Net Income $3,348,500 748,800 $2,817,300 577,000 $3,394,300 Total 31,097,300 Dividends: On preferred stock $9,800 $9,800 36,000 On common stock Total dividends 36,000 $45,800 145,800 $3,348,500 Retained earnings, December 31 $4,051.500 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Sales $4,516,875 $4,161,620 Cost of goods sold 1,719,880 1,582,290 Gross profit $2,796,995 $2,579,330 $917,920 Selling expenses Administrative expenses Total operating expenses $1,137,480 668,040 781,925 $1,805,520 Income from operations $1,699,845 $1,097,150 Other revenue $773,810 49,390 57,750 $823,200 Other expense (interest) 167,200 Income before income tax $1,154,900 304,000 $850,900 102,100 $656,000 Income tax expense 79,000 Net income $748,800 $577,000 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 2012 2011 Assets Current assets Cash $959,410 1,452,070 Marketable securities Accounts receivable (net) 846,800 627,800 181,510 Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) $689,730 1,142,970 795,700 481,800 137,950 $3,248,150 912,175 3,762,000 $7,922,325 $4,067,590 2,300,260 4,180,000 Total assets $10,547,850 Liabilities Current liabilities $1,196,350 $983,825 Long-term liabilities: Mortgage note payable, 8% $1,710,000 $0 ? non no non nnn Ronde nayahlo AOL Mortgage note payable, 8% $1,710,000 $0 Bonds payable, 8% 2,090,000 2,090,000 Total long-term liabilities $3,800,000 $2,090,000 Total liabilities $4,996,350 $3,073,825 Stockholders' Equity Preferred $0.70 stock, $50 par $700,000 $700,000 Common stock, $10 par 800,000 800,000 Retained earnings 4,051,500 3,348,500 Total stockholders' equity $5,551,500 $4,848,500 Total liabilities and stockholders' equity $10,547,850 $7,922,325 Required: 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 recevables days 6. Inventory turnover Sud 7:01 PM 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 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 96 % 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 90 18. Dividend yield