Measures of liquidity, Solvency and Profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 2012 Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 20Y1 Retained earnings, January 1 $5,375,000 $4,545,000 Net Income $900,000 $925,000 Dividends: On preferred stock (45,000) (45,000) On common stock (50,000) (50,000) Increase in retained earnings $805,000 $830,000 Retained earnings, December 31 $6,180,000 $5,375,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 2012 Sales $10,000,000 Cost of goods sold Gross profit 2011 $9,400,000 (4,950,000) $4,450,000 (5,350,000) $4,650,000 Calw Measures of liquidity, Solvency and Profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 2012 Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 20Y1 Retained earnings, January 1 $5,375,000 $4,545,000 Net Income $900,000 $925,000 Dividends: On preferred stock (45,000) (45,000) On common stock (50,000) (50,000) Increase in retained earnings $805,000 $830,000 Retained earnings, December 31 $6,180,000 $5,375,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 2012 Sales $10,000,000 Cost of goods sold Gross profit 2011 $9,400,000 (4,950,000) $4,450,000 (5,350,000) $4,650,000 Calw