Measures of liquidity, Solvency, and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ $62$ on December $31,20$Y$2.$

Marshall Inc.

Comparative Retained Earnings Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Retained earnings, January $1$ $$2,208,125$ $$1,865,475$

Net income $503,200382,100$

Dividends:

On preferred stock $(6,300)(6,300)$

On common stock $(33,150)(33,150)$

Retained earnings, December $31$ $$2,671,875$ $$2,208,125$

Marshall Inc.

Comparative Income Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Sales $$3,014,900$ $$2,777,800$

Cost of merchandise sold $1,051,200967,100$

Gross profit $$1,963,700$ $$1,810,700$

Selling expenses $$676,780$ $$826,400$

Administrative expenses $576,510485,350$

Total operating expenses $$1,253,290$ $$1,311,750$

Income from operations $$710,410$ $$498,950$

Other revenue and expense:

Other revenue $37,39031,850$

Other expense $($interest$)(176,000)(96,800)$

Income before income tax expense $$571,800$ $$434,000$

Income tax expense $68,60051,900$

Net income $$503,200$ $$382,100$

Marshall Inc.

Comparative Balance Sheet

December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Assets

Current assets:

Cash $$442,780$ $$490,750$

Marketable securities $670,150813,250$

Accounts receivable $($net$)525,600496,400$

Inventories $394,200306,600$

Prepaid expenses $83,77098,150$

Total current assets $$2,116,500$ $$2,205,150$

Long$-$term investments $2,000,875995,264$

Property, plant, and equipment $($net$)2,420,0002,178,000$

Total assets $$6,537,375$ $$5,378,414$

Liabilities

Current liabilities $$705,500$ $$1,000,289$

Long$-$term liabilities:

Mortgage note payable, $8\%$ $$990,000$ $$0$

Bonds payable, $8\%1,210,0001,210,000$

Total long$-$term liabilities $$2,200,000$ $$1,210,000$

Total liabilities $$2,905,500$ $$2,210,289$

Stockholders' Equity

Preferred $$0\mathrm{.}70$ stock, $$50$ par $$450,000$ $$450,000$

Common stock, $$10$ par $510,000510,000$

Retained earnings $2,671,8752,208,125$

Total stockholders' equity $$3,631,875$ $$3,168,125$

Total liabilities and stockholders' equity $$6,537,375$ $$5,378,414$

Required:

Determine the following measures for $20$Y$2,$ 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 $fill in the blank $1$

$2.$ Current ratio fill in the blank $2$

$3.$ Quick ratio fill in the blank $3$

$4.$ Accounts receivable turnover fill in the blank $4$

$5.$ Number of days' sales in receivables fill in the blank $5$

days

$6.$ Inventory turnover fill in the blank $6$

$7.$ Number of days' sales in inventory fill in the blank $7$

days

$8.$ Ratio of fixed assets to long$-$term liabilities fill in the blank $8$

$9.$ Ratio of liabilities to stockholders' equity fill in the blank $9$

$10.$ Times interest earned fill in the blank $10$

$11.$ Asset turnover fill in the blank $11$

$12.$ Return on total assets fill in the blank $12$

$\%$

$13.$ Return on stockholders$$ equity fill in the blank $13$

$\%$

$14.$ Return on common stockholders$$ equity fill in the blank $14$

$\%$

$15.$ Earnings per share on common stock $fill in the blank $15$

$16.$ Price$-$earnings ratio fill in the blank $16$

$17.$ Dividends per share of common stock $fill in the blank $17$

$18.$ Dividend yield fill in the blank $18$

$\%$