Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 67 on December 31, 2072. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $3,908,275 $3,317,325 Net income 852,000 679,500 Total $4,760,275 $3,996,825 Dividends: On preferred stock $11,200 $11,200 On common stock 77,350 77,350 Total dividends $88,550 $88,550 Retained earnings, December 31 $4,671,725 $3,908,275 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 $5,825,400 2,124,300 2011 Sales Cost of goods sold $5,367,270 1,954,360 Gross profit $3,701,100 $3,412,910 $1,554,620 $1,284,400 1,094,110 913,030 Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue $2,378,510 $2,467,650 $1,322,590 $945,260 69,610 60,340 Check My Work 2 more Check My Work uses remaining $1,392,200 $1,005,600 Other expense interest) 424,000 233,600 Income before income tax $968,200 Income tax expense 116,200 $772,000 92,500 $679,500 Net income $852,000 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 2012 Assets 2011 Current assets Cash $1,278,570 $838,860 1,390,100 Marketable securities Accounts receivable (net) Inventories 1,935,130 1,073,100 803,000 1,007,400 613,200 167,770 $4,017,330 Prepaid expenses 241,884 Total current assets Long-term investments 534,047 $5,331,684 2,239,939 5,830,000 $13,401,623 Property, plant, and equipment (net) 5,247,000 $9,798,377 Total assets Liabilities Current liabilities $1,719,898 $1,260,102 so Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities $2,380,000 2,920,000 $5,300,000 2,920,000 $2,920,000 $7,019,898 $4,180,102 $800,000 Total liabilities Stockholders' Equity Preferred $0.70 stock, $50 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $800,000 910,000 910,000 4,671,725 3,908,275 $6,381,725 $5,618,275 $13,401,623 $9,798,377 Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounde days a year. 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 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 tumover 96 12. Retum on total assets 96 13. Return on stockholders' equity % 14. Return on common stockholders' equity 15. Earnings per share on common stock 16. Price earnings ratio 16. Price-eamings ratio 17. Dividends per share of common stock III 18. Dividend yield %
