Measures of liquidity, Solvency, and Profitability
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 59 on December 31, 20Y2
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 requirements, if required. Assume 365 days a year
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Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 59 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 20Y1 Retained earnings, January 1 $1,704,350 374,400 $1,450,350 297,100 Net income Total $2,078,750 $1,747,450 $11,900 Dividends: On preferred stock On common stock Total dividends $11,900 31,200 31,200 $43,100 $43,100 Retained earnings, December 31 $2,035,650 $1,704,350 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $2,052,060 $2,227,230 854,100 Cost of goods sold 785,770 Gross profit $1,373,130 $1,266,290 Selling expenses $445,240 $547,850 321,760 Administrative expenses 379,270 Total operating expenses $824,510 $869,610 Income from operations $548,620 28,880 $396,680 25,320 Other revenue $577,500 $422,000 84,000 Other expense (interest) 152,000 Income before income tax $425,500 $338,000 Income tax expense 51,100 40,900 Net income $374,400 $297,100 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 20Y2 20Y1 Assets Current assets Cash $421,970 $367,450 638,660 608,920 423,400 401,500 Marketable securities Accounts receivable (net) Inventories Prepaid expenses 321,200 79,842 248,200 73,490 Total current assets $1,885,072 1,089,663 2,280,000 $1,699,560 393,705 Long-term investments Property, plant, and equipment (net) 2,052,000 Total assets $5,254,735 $4,145,265 Liabilities Current liabilities $589,085 $660,915 Long-term liabilities: $850,000 $0 Mortgage note payable, 8% Bonds payable, 8% 1,050,000 1,050,000 Total long-term liabilities $1,900,000 $1,050,000 Total liabilities $2,489,085 $1,710,915 Stockholders' Equity Preferred $0.70 stock, $20 par Common stock, $10 par $340,000 $340,000 390,000 2,035,650 Retained earnings 390,000 1,704,350 $2,434,350 Total stockholders' equity $2,765,650 Total liabilities and stockholders' equity $5,254,735 $4,145,265 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 1,295,987 3.2 2.5 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
