Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 60 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 Retained earnings, January 1 $2,343,350 $1,993,050 Net income 511,200 408,200 Total $2,854,550 $2,401,250 Dividends: On preferred stock $8,400 $8,400 On common stock 49,500 49,500 Total dividends $57,900 $57,900 $2,343,350 Retained earnings, December 31 $2,796,650 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Sales $3,432,825 $3,162,850 Cost of goods sold 1,270,200 1,168,580 Gross profit $2,162,625 $1,994,270 $738,490 $898,230 Selling expenses Administrative expenses 629,085 527,530 Total operating expenses $1,367,575 $1,425,760 Income from operations $568,510 $795,050 41,850 Other revenue 36,290 $836,900 $604,800 256,000 140,800 Other expense (interest) Income before income tax $580,900 $464,000 55,800 Income tax expense 69,700 Net income $511,200 $408,200 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 2012 2011 Assets Current assets Cash $816,420 $508,720 Marketable securities 1,235,660 843,020 Accounts receivable (net) 642,400 605,900 Inventories 481,800 365,000 Prepaid expenses 154,460 101,740 Total current assets $2,424,380 Long-term investments $3,330,740 865,225 3,840,000 32,746 Property, plant, and equipment (net) 3,456,000 Total assets $8,035,965 $5,913,126 Liabilities Current liabilities $1,009,315 $779,776 $0 Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities $1,440,000 1,760,000 1,760,000 $3,200,000 $1,760,000 Total liabilities $4,209,315 $2,539,776 Total liabilities $4,209,315 $2,539,776 Stockholders' Equity Preferred $0.70 stock, $40 par $480,000 $480,000 Common stock, $10 par 550,000 550,000 2,796,650 Retained earnings 2,343,350 $3,373,350 Total stockholders' equity $3,826,650 Total liabilities and stockholders' equity $8,035,965 $5,913,126 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. 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 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 %
