Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 68 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 202 201 Retained earnings, January 1 $1,542,100 1,806,000 Net income 420,000 315,900 Total $2,226,000 $1,858,000 Dividends: On preferred stock $13,300 $13,300 38,700 38,700 On common stock Total dividends $52,000 $52,000 $2,174,000 $1,806,000 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 22 20Y1 Sales $2,163,720 $1,993,570 Cost of goods sold 785,770 854,100 Gross profit $1,309,620 $1,207,800 Selling expenses $388,470 501,410 Administrative expenses 330,920 294,480 Total operating expenses $719,390 $795,890 Income from operations $590,230 411,910 Other revenue 31,070 26,290 $ 438,200 621,300 Other expense (interest) 79,200 144,000 Income before income tax 477,300 359,000 Income tax expense 57,300 43,100 $ 420,000 315,900 Net income Marshall Inc Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 201 Assets Current assets $ 473,360 Cash $460,490 Marketable securities 696,960 784,440 Accounts receivable (net) 430,700 401,500 Inventories 248,200 321,200 Prepaid expenses 87,130 94,670 $ 2,002,170 Total current assets $1,996,480 Long-term investments 1,394,720 1,099,175 Property, plant, and equipment (net) 1,980,000 1,782,000 $ 4,883,345 5,371,200 Total assets Liabilities Current liabilities 587,200 $1,277,345 Long-term liabilities: $ 0 810,000 Mortgage note payable, 8% Bonds payable, 8% 990,000 990,000 Total long-term liabilities $1,800,000 $990,000 $ 2,267,345 Total liabilities $2,387,200 Stockholders' Equity Preferred $0.70 stock, $20 par $380,000 380,000 Common stock, $10 par 430,000 430,000 Retained earnings 2,174,000 1,806,000 $ 2,984,000 $ 2,616,000 Total stockholders' equity 5,371,200 $ 4,883,345 Total liabilities and stockholders' equity Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest o days a year. 1. Working capital 2. Current ratio 3. Quick ratio Accounts receivable turnover 4. 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 Return on total assets % 12. Return on stockholders' equity % 13. 14 Return on common stockholders' equity % 15. Earnings per share on common stock 16. Price-earnings ratio $ oo 17. Dividends per share of common stock 18. Dividend yield
