Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 59 on December 31, 2012. 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 D 20Y2 20Y1 $3,598,050 $3,023,650 828,800 619,300 $4,426,850 $3,642,950 $10,500 $10,500 34,400 34,400 $44,900 $44,900 $4,381,950 $3,598,050 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 20Y2 20Y1 Sales $5,380,100 $4,956,910 Cost of goods sold 2,081,960 1,915,400 Gross profit $3,298,140 $3,041,510 Selling expenses $1,092,650 $1,368,960 Administrative expenses 930,780 803,990 Total operating expenses $2,023,430 $2,172,950 Income from operations $1,274,710 $868,560 Other revenue 67,090 55,440 $1,341,800 $924,000 Other expense (interest) 400,000 220,000 Income before income tax Income tax expense Net income $941,800 $704,000 113,000 84,700 $828,800 $619,300 Marshall Tnc Marshall Inc. Comparative Balance Sheet December 31, 20Y2 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% Pondo novshle 006 20Y2 20Y1 $1,112,530 $834,940 1,683,830 1,383,620 1,007,400 949,000 759,200 584,000 210,475 166,990 $4,773,435 $3,918,550 1,809,660 238,896 6,000,000 5,400,000 $12,583,095 $9,557,446 Liabilities $1,591,145 $1,599,396 $2,250,000 $0 2750.000 2.750.000 Total assets $12,583,095 $9,557,446 Liabilities $1,591,145 $1,599,396 Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities $2,250,000 $0 2,750,000 2,750,000 $5,000,000 $2,750,000 $6,591,145 $4,349,396 Stockholders' Equity Preferred $0.70 stock, $50 par $750,000 $750,000 Common stock, $10 par 860,000 860,000 Retained earnings 4,381,950 3,598,050 Total stockholders' equity $5,991,950 $5,208,050 Total liabilities and stockholders' equity $12,583,095 $9,557,446 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 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 receivables 6. Inventory turnover days 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover days 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock % % 96 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned days days 11. Asset turnover % 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield % % %