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 $ 57 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 20Y2 20Y1 Retained earnings, January 1 $ 2,961,300 $ 3,514,200 745,200 Net income 606,500 $ 3,567,800 Total $ 4,259,400 Dividends On preferred stock $ 12,600 $ 12,600 On common stock 41,000 41,000 Total dividends $ 53,600 $ 53,600 Retained earnings, December 31 $ 4,205,800 $ 3,514,200 Marshall Inc Comparative Income Statement For the Years Ended December 31, 2012 and 2041 , 20Y2 20Y1 Sales Cost of goods sold $ 5,606,400 2,014,070 $ 5,165,480 1,852,940 $ 3,592,330 Gross profit Selling expenses Administrative expenses $ 1,308,460 1,114,610 $ 3,312,540 $ 1,553,800 912,550 2,423,070 2,466,350 Total operating expenses Income from operations $ 1,169,260 Other income 61,540 $ 1,230,800 384,000 $ 846,190 54,010 $ 900,200 211,200 Other expense (interest) Income before income tax $ 689,000 $ 846,800 101,600 Income tax expense 82,500 Net income $ 745,200 $ 606,500 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 20Y1 Dec 31, 2012 Assets Dec. 31, 2011 Current assets Cash $ 1,286,010 1,946,390 Marketable securities Accounts receivable (net) $ 645,970 1,070,460 905,200 569,400 963,600 730,000 Inventories Prepaid expenses 243,292 129,190 Total current assets $5,169,292 $ 3,320,220 25,886 Long-term investments 1,616,888 5,280,000 4,752,000 Property, plant, and equipment (net) Total assets $ 12,066,180 $ 8,098,106 Liabilities Current liabilities $ 1,520,380 $ 403,906 Long-term liabilities Mortgage note payable, 8 % Bonds payable, 8 % $ 2,160,000 $0 2,640,000 2,640,000 Total long-term liabilities $ 4,800,000 $ 2,640,000 $ 6,320,380 $ 3,043,906 Total liabilities Stockholders' Equity Preferred $ 0.70 stock, $ 40 par Common stock, $ 10 par Retained earnings $ 720,000 $ 720,000 820,000 4,205,800 820,000 3,514,200 Total stockholders' equity $ 5,745,800 $ 5,054,200 Total liabilities and stockholders' equity $ 12,066,180 $ 8,098,106 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. 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 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 %
