Measures of liquidity, Solvency and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 58 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 Retained earnings, January 1 Net income Total Dividends On preferred stock On common stock Total dividends Retained earnings, December 31 20Y2 20Y1 $ 4,203,025 1,003,200 $ 5,206,225 $ 4,272,275 $ 3,545,975 726,300 $ 12,600 56,650 $ 69,250 $ 5,136,975 $ 12,600 56,650 $ 69,250 $ 4,203,025 Sales Cost of goods sold Gross profit Selling expenses Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Administrative expenses 20Y2 $ 5,929,425 1,982,680 $ 3,946,745 $ 1,349,430 1,149,515 2,498,945 Total operating expenses Income from operations $ 1,447,800 Other income Other expense (interest) Income before income tax Income tax expense Net income 76,200 $ 1,524,000 384,000 $ 1,140,000 136,800 $ 1,003,200 20Y1 $ 5,463,030 1,824,070 $ 3,638,960 $ 1,678,910 986,020 2,664,930 $974,030 62,170 $ 1,036,200 211,200 $825,000 98,700 $ 726,300 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 20Y1 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities Dec. 31, 20Y2 Dec. 31, 20Y1 $ 1,037,750 $ 998,320 1,570,650 1,654,350 1,073,100 1,007,400 803,000 613,200 196,334 $ 4,680,834 2,506,419 6,240,000 199,660 $ 4,472,930 820,659 5,616,000 $ 10,909,589 $ 13,427,253 Liabilities $ 1,560,278 $ 2,136,564 $ 2,160,000 2,640,000 $ 4,800,000 $ 6,360,278 $ 0 2,640,000 $ 2,640,000 $ 4,776,564 Stockholders' Equity Preferred $ 0.70 stock, $ 50 par $ 900,000 $900,000 Common stock, $ 10 par Retained earnings 1,030,000 Total stockholders' equity Total liabilities and stockholders' equity 5,136,975 $ 7,066,975 $ 13,427,253 1,030,000 4,203,025 $ 6,133,025 $ 10,909,589 Required: 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 6. Inventory turnover 3,120,556 3 2.35 X 5.7 64 days 2.8 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 130 X days 1.82 X 0.67 X 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 3.77 X 0.48 X 7.47 X % 14.31 X % 97.39 X % 9.73 X 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield 5.96 0.55 %