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 201 $4,480,250 $3,765,550 Retained earnings, January 1 1,036,000 771,200 Net income $5,516,250 $4,536,750 Total Dividends: $13,300 $13,300 On preferred stock 43,200 43,200 On common stock $56,500 $56,500 Total dividends $5,459,750 $4,480,250 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Print Item Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $6,705,050 $6,177,710 Cost of goods sold 2,518,500 2,317,020 Gross profit $4,186,550 $3,860,690 Selling expenses $1,398,230 $1,749,080 Administrative expe 1,191,090 1,027,230 Total operating expensesi $2,589,320 $2,776,310 Income from operations $1,597,230 $1,084,380 Other revenue 84,070 69,220 $1,681,300 $1,153,600 504,000 Other expense (interest) 277,600 Income before income tax $1,177,300 $876,000 Income tax expense 141,300 104,800 $1,036,000 $771,200 Net income Marshall Inc. Chedk My t eBook Calculator Print Item Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y1 20Y2 Assets Current assets $984,880 $1,408,020 Cash 1,632,090 2,131,050 Marketable securities Accounts receivable (net) 1,182,600 1,255,600 949,000 730,000 Inventories 266,378 196,980 Prepaid expenses $4,726,550 $6,010,048 Total current assets 564,612 2,788,427 Long-term investments 6,930,000 6,237,000 Property, plant, and equipment (net) $15,728,475 $11,528,162 Total assets Liabilities $1,547,912 $1,938,725 Current liabilities Long-term liabilities: $0 $2,830,000 Mortgage note payable, 8% 3,470,000 3,470,000 Bonds payable, 8% Check My Work 2 more Check My Work uses remaining. eBook Calculator Print Item Bonds payable, 8% 3,470,000 3,470,000 Total long-term liabilities $6,300,000 $3,470,000 Total liabilities $8,238,725 $5,017,912 Stockholders' Equity Preferred $0.70 stock, $50 par $950,000 $950,000 Common stock, $10 par 1,080,000 1,080,000 Retained earnings 5,459,750 4,480,250 Total stockholders' equity $7,489,750 $6,510,250 Total liabilities and stockholders' equity $15,728,475 $11,528,162 Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should 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 days 5. Number of days' sales in receivables 6. Inventory turnover days 7. Number of days' sales in inventory Check My Work 2 more Check My Work uses remaining. 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 Ratio of fixed assets to long-term liabilities 8. 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total asss % 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 V 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 201 $4,480,250 $3,765,550 Retained earnings, January 1 1,036,000 771,200 Net income $5,516,250 $4,536,750 Total Dividends: $13,300 $13,300 On preferred stock 43,200 43,200 On common stock $56,500 $56,500 Total dividends $5,459,750 $4,480,250 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Print Item Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $6,705,050 $6,177,710 Cost of goods sold 2,518,500 2,317,020 Gross profit $4,186,550 $3,860,690 Selling expenses $1,398,230 $1,749,080 Administrative expe 1,191,090 1,027,230 Total operating expensesi $2,589,320 $2,776,310 Income from operations $1,597,230 $1,084,380 Other revenue 84,070 69,220 $1,681,300 $1,153,600 504,000 Other expense (interest) 277,600 Income before income tax $1,177,300 $876,000 Income tax expense 141,300 104,800 $1,036,000 $771,200 Net income Marshall Inc. Chedk My t eBook Calculator Print Item Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y1 20Y2 Assets Current assets $984,880 $1,408,020 Cash 1,632,090 2,131,050 Marketable securities Accounts receivable (net) 1,182,600 1,255,600 949,000 730,000 Inventories 266,378 196,980 Prepaid expenses $4,726,550 $6,010,048 Total current assets 564,612 2,788,427 Long-term investments 6,930,000 6,237,000 Property, plant, and equipment (net) $15,728,475 $11,528,162 Total assets Liabilities $1,547,912 $1,938,725 Current liabilities Long-term liabilities: $0 $2,830,000 Mortgage note payable, 8% 3,470,000 3,470,000 Bonds payable, 8% Check My Work 2 more Check My Work uses remaining. eBook Calculator Print Item Bonds payable, 8% 3,470,000 3,470,000 Total long-term liabilities $6,300,000 $3,470,000 Total liabilities $8,238,725 $5,017,912 Stockholders' Equity Preferred $0.70 stock, $50 par $950,000 $950,000 Common stock, $10 par 1,080,000 1,080,000 Retained earnings 5,459,750 4,480,250 Total stockholders' equity $7,489,750 $6,510,250 Total liabilities and stockholders' equity $15,728,475 $11,528,162 Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should 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 days 5. Number of days' sales in receivables 6. Inventory turnover days 7. Number of days' sales in inventory Check My Work 2 more Check My Work uses remaining. 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 Ratio of fixed assets to long-term liabilities 8. 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total asss % 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 V