Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 61 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 20Y2 20Y1 Retained earnings, January 1 $2,453,000 $2,077,800 Net income 524,400 425,600 Total $2,977,400 $2,503,400 Dividends: On preferred stock $9,100 $9,100 On common stock 41,300 41,300 Total dividends $50,400 $50,400 Retained earnings, December 31 $2,927,000 $2,453,000 2011 $2,710,540 1,032,250 $1,678,290 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 Sales $2,941,900 Cost of goods sold 1,122,010 Gross profit $1,819,890 Selling expenses $574,450 Administrative expenses 489,340 Total operating expenses $1,063,790 Income from operations $756,100 Other revenue 39,800 $795,900 Other expense (interest) 200,000 Income before income tax $595,900 Income tax expense 71,500 Net income $524,400 $705,320 414,230 $1,119,550 $558,740 35,660 $594,400 110,400 $484,000 58,400 $425,600 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 2012 20Y1 $539,700 816,840 584,000 438,000 102,100 $2,480,640 1,785,960 3,000,000 $7,266,600 $538,110 891,740 547,500 335,800 107,620 $2,420,770 783,539 2,700,000 $5,904,309 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities Stockholders' Equity Preferred $0.70 stock, $40 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $729,600 $961,309 $1,120,000 1,380,000 $2,500,000 $0 1,380,000 $1,380,000 $2,341,309 $3,229,600 $520,000 590,000 2,927,000 $4,037,000 $7,266,600 $520,000 590,000 2,453,000 $3,563,000 $5,904,309 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 729,600 2. Current ratio 3.40 3. Quick ratio 2.66 4. Accounts receivable turnover 5.2 5. Number of days' sales in receivables 70.2 days 6. Inventory turnover 7. Number of days' sales in inventory 125.9 days 8. Ratio of fixed assets to long-term liabilities 1.91 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 3.98 2.9 0.8 11. Asset turnover 0.45 % 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 8.7 7.01 0.70 18. Dividend yield