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 $ 54 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 2012 20Y1 Retained earnings, January 1 $ 3,586,175 $ 3,027,325 Net income 828,800 620,000 Total $ 4,414,975 $ 3,647,325 Dividends On preferred stock $ 13,300 47,850 $ 13,300 47,850 On common stock Total dividends $ 61,150 $ 61,150 Retained earnings, December 31 $ 4,353,825 $ 3,586,175 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 20Y2 2011 Sales $ 5,477,920 $ 5,047,100 1,853,620 2,014,800 Cost of goods sold Gross profit $ 3,463,120 $ 3,193,480 $ 1,181,740 $ 1,464,110 Selling expenses Administrative expenses 1,006,670 859,870 2,188,410 Total operating expenses Income from operations $ 1,274,710 2,323,980 $ 869,500 55,500 Other income 67,090 $ 1,341,800 $ 925,000 400,000 Other expense (interest) Income before income tax $ 941,800 220,000 $ 705,000 85,000 Income tax expense 113,000 Net income $ 828,800 $ 620,000 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 Dec. 31, 20Y2 Assets Dec. 31, 2011 , Current assets Cash $ 1,219,690 1,846,020 1,007,400 $ 837,390 1,387,680 Marketable securities Accounts receivable (net) Inventories 949,000 584,000 167,480 759,200 230,756 $ 5,063,066 Prepaid expenses Total current assets $ 3,925,550 698,958 2,002,967 5,500,000 4,950,000 $ 12,566,033 $ 9,574,508 Long-term investments Property, plant, and equipment (net) Total assets Liabilities Current liabilities Long-term liabilities Mortgage note payable, 8 % Bonds payable, 8 % Total long-term liabilities $ 1,582,208 $ 1,608,333 $ 2,250,000 $ 0 2,750,000 $ 5,000,000 $ 6,582,208 2,750,000 $ 2,750,000 $ 4,358,333 $760,000 $ 760,000 Total liabilities Stockholders' Equity Preferred $ 0.70 stock, $ 40 par Common stock, $ 10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 870,000 870,000 3,586,175 4,353,825 $ 5,983,825 $ 5,216,175 $ $ 12,566,033 $ 9,574,508 Required: days 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 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 % % S $ %