1. 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, 20Y2.

   Marshall Inc.
   Comparative Retained Earnings Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   			20Y2		20Y1
   Retained earnings, January 1			$3,878,075		$3,262,125
   Net income			876,000		668,100
   Dividends:
   	On preferred stock		(11,200)		(11,200)
   	On common stock		(40,950)		(40,950)
   Retained earnings, December 31			$4,701,925		$3,878,075

   Marshall Inc.
   Comparative Income Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   	20Y2		20Y1
   Sales	$5,124,600		$4,721,550
   Cost of merchandise sold	1,949,100		1,793,170
   Gross profit	$3,175,500		$2,928,380
   Selling expenses	$1,023,510		$1,280,750
   Administrative expenses	871,870		752,190
   Total operating expenses	$1,895,380		$2,032,940
   Income from operations	$1,280,120		$895,440
   Other revenue and expense:
   Other revenue	67,380		57,160
   Other expense (interest)	(352,000)		(193,600)
   Income before income tax expense	$995,500		$759,000
   Income tax expense	119,500		90,900
   Net income	$876,000		$668,100

   Marshall Inc.
   Comparative Balance Sheet
   December 31, 20Y2 and 20Y1
   			20Y2		20Y1
   Assets
   Current assets:
   	Cash		$889,480		$905,670
   	Marketable securities		1,346,240		1,500,820
   	Accounts receivable (net)		978,200		919,800
   	Inventories		730,000		569,400
   	Prepaid expenses		168,279		181,130
   		Total current assets	$4,112,199		$4,076,820
   Long-term investments			2,350,459		718,648
   Property, plant, and equipment (net)			5,720,000		5,148,000
   Total assets			$12,182,658		$9,943,468
   Liabilities
   Current liabilities			$1,370,733		$1,935,393
   Long-term liabilities:
   	Mortgage note payable, 8%		$1,980,000		$0
   	Bonds payable, 8%		2,420,000		2,420,000
   		Total long-term liabilities	$4,400,000		$2,420,000
   Total liabilities			$5,770,733		$4,355,393
   Stockholders' Equity
   Preferred $0.70 stock, $50 par			$800,000		$800,000
   Common stock, $10 par			910,000		910,000
   Retained earnings			4,701,925		3,878,075
   Total stockholders' equity			$6,411,925		$5,588,075
   Total liabilities and stockholders' equity			$12,182,658		$9,943,468

   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	$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	%