Measures of liquidity, Solvency, and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ $65$ on December $31,20$Y$2.$

Marshall Inc.

Comparative Retained Earnings Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Retained earnings, January $1$ $$1,557,900$ $$1,318,800$

Net income $355,200270,100$

Dividends:

On preferred stock $(11,200)(11,200)$

On common stock $(19,800)(19,800)$

Retained earnings, December $31$ $$1,882,100$ $$1,557,900$

Marshall Inc.

Comparative Income Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Sales $$1,992,535$ $$1,835,830$

Cost of merchandise sold $715,400658,170$

Gross profit $$1,277,135$ $$1,177,660$

Selling expenses $$408,730$ $$513,220$

Administrative expenses $348,185301,410$

Total operating expenses $$756,915$ $$814,630$

Income from operations $$520,220$ $$363,030$

Other revenue and expense:

Other revenue $27,38023,170$

Other expense $($interest$)(144,000)(79,200)$

Income before income tax expense $$403,600$ $$307,000$

Income tax expense $48,40036,900$

Net income $$355,200$ $$270,100$

Marshall Inc.

Comparative Balance Sheet

December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Assets

Current assets:

Cash $$347,780$ $$376,240$

Marketable securities $526,370623,490$

Accounts receivable $($net$)386,900365,000$

Inventories $292,000219,000$

Prepaid expenses $65,79875,250$

Total current assets $$1,618,848$ $$1,658,980$

Long$-$term investments $1,089,142443,316$

Property, plant, and equipment $($net$)2,160,0001,944,000$

Total assets $$4,867,990$ $$4,046,296$

Liabilities

Current liabilities $$505,890$ $$818,396$

Long$-$term liabilities:

Mortgage note payable, $8\%$ $$810,000$ $$0$

Bonds payable, $8\%990,000990,000$

Total long$-$term liabilities $$1,800,000$ $$990,000$

Total liabilities $$2,305,890$ $$1,808,396$

Stockholders' Equity

Preferred $$0\mathrm{.}70$ stock, $$20$ par $$320,000$ $$320,000$

Common stock, $$10$ par $360,000360,000$

Retained earnings $1,882,1001,557,900$

Total stockholders' equity $$2,562,100$ $$2,237,900$

Total liabilities and stockholders' equity $$4,867,990$ $$4,046,296$

Required:

Determine the following measures for $20$Y$2,$ 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 $fill in the blank $1$

$2.$ Current ratio fill in the blank $2$

$3.$ Quick ratio fill in the blank $3$

$4.$ Accounts receivable turnover fill in the blank $4$

$5.$ Number of days' sales in receivables fill in the blank $5$

days

$6.$ Inventory turnover fill in the blank $6$

$7.$ Number of days' sales in inventory fill in the blank $7$

days

$8.$ Ratio of fixed assets to long$-$term liabilities fill in the blank $8$

$9.$ Ratio of liabilities to stockholders' equity fill in the blank $9$

$10.$ Times interest earned fill in the blank $10$

$11.$ Asset turnover fill in the blank $11$

$12.$ Return on total assets fill in the blank $12$

$\%$

$13.$ Return on stockholders$$ equity fill in the blank $13$

$\%$

$14.$ Return on common stockholders$$ equity fill in the blank $14$

$\%$

$15.$ Earnings per share on common stock $fill in the blank $15$

$16.$ Price$-$earnings ratio fill in the blank $16$

$17.$ Dividends per share of common stock $fill in the blank $17$

$18.$ Dividend yield fill in the blank $18$

$\%$