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			$3,910,550		$3,323,050
   Net income			852,000		680,600
   Total			$4,762,550		$4,003,650
   Dividends:
   	On preferred stock		$11,200		$11,200
   	On common stock		81,900		81,900
   		Total dividends	$93,100		$93,100
   Retained earnings, December 31			$4,669,450		$3,910,550

   Marshall Inc.
   Comparative Income Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   	20Y2		20Y1
   Sales	$5,721,375		$5,271,400
   Cost of goods sold	2,124,300		1,954,360
   Gross profit	$3,597,075		$3,317,040
   Selling expenses	$1,228,220		$1,493,630
   Administrative expenses	1,046,265		877,210
   Total operating expenses	$2,274,485		$2,370,840
   Income from operations	$1,322,590		$946,200
   Other revenue	69,610		60,400
   	$1,392,200		$1,006,600
   Other expense (interest)	424,000		233,600
   Income before income tax	$968,200		$773,000
   Income tax expense	116,200		92,400
   Net income	$852,000		$680,600

   Marshall Inc.
   Comparative Balance Sheet
   December 31, 20Y2 and 20Y1
   			20Y2		20Y1
   Assets
   Current assets
   	Cash		$1,466,330		$780,090
   	Marketable securities		2,219,300		1,292,730
   	Accounts receivable (net)		1,073,100		1,007,400
   	Inventories		803,000		613,200
   	Prepaid expenses		277,413		156,020
   		Total current assets	$5,839,143		$3,849,440
   Long-term investments			1,727,702		292,429
   Property, plant, and equipment (net)			5,830,000		5,247,000
   Total assets			$13,396,845		$9,388,869
   Liabilities
   Current liabilities			$1,717,395		$848,319
   Long-term liabilities:
   	Mortgage note payable, 8%		$2,380,000		$0
   	Bonds payable, 8%		2,920,000		2,920,000
   		Total long-term liabilities	$5,300,000		$2,920,000
   Total liabilities			$7,017,395		$3,768,319
   Stockholders' Equity
   Preferred $0.70 stock, $50 par			$800,000		$800,000
   Common stock, $10 par			910,000		910,000
   Retained earnings			4,669,450		3,910,550
   Total stockholders' equity			$6,379,450		$5,620,550
   Total liabilities and stockholders' equity			$13,396,845		$9,388,869

   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.

days days 1. Working capital 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 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 % % % $ %