Measures of liquidity, Solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 63 on December 31, 2012. Marshall Inc Comparative Retained Earnings statement For the Years Ended December 31, 2012 and 2011 2012 2011 Retained earnings, January 1 $2,337,000 $1,983,200 Net Income 510,400 405,200 Dividends On preferred stock On common stock Retained earnings, December 31 (8,400) (44,000) $2,803,000 (8,400) (44,000) $2,337,000 2011 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 2012 Sales $3,682,465 Cost of merchandise sold 1,312,500 Gross profit $2,160,045 Selling expenses 5046,240 Administrative expenses 720,065 Total operating expenses $1,567,105 income from operations 5003,640 Other venge and expense $3,392,030 1,207,540 $2,105,290 $1,019,760 59,900 $1,618,660 $66.630 Check My Work more Check My Women Amnistrave expenses 720,816 $1,567,105 $802,840 3918890 $1,618,660 $566,670 Total operating expenses Income from operations other revenue and expenses Other revenue other expense (Interest) Income before income tax expense Income tax expense 36,170 (140,000) 42,260 (256,000) $589,100 70,700 $518,400 $462,000 55,800 Net Income $405,200 Marshall Inc. Comparative Balance sheet December 31, 2012 and 2041 2012 2011 Assets Current assets: $862,550 1,305,480 642,400 Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets 481,800 163, 190 $507,390 840,810 605,900 365,000 101,480 $2,420,550 27,273 3,456,000 $5,903,853 $3,455,420 753,880 3,040,000 58,049,300 Liabilities Check My Work more Check My Wees remang Determine the following measures for 2012, rounding to one decimal place, except for dollar amounts, which should be rounded to t requirement, If required. Assume 365 days a year. 1. Working capital 2,439,120 2. Current ratio 3.4 3. Quick ratio 3.2 x 4. Accounts receivable turnover 5.9 62 X days 3.1 118X days 5. Number of days' sales in receivables 6. Inventory tumover 7. Number of days' sales In Inventory 3. Ratio of toxed assets to long-term liabilities . Ratio of liabilities to stockholders' equity 10. Time interest earned 11. Aset turnover 1.2 1.1 13 X 0.45 X 12. Rotum on total assets 6X 13. Retum on stockholders' equity 13.5 X 4 14. Return on common stockholders' equity 94.2 X 15. Earnings por share on common stock 9.42 X 16. Peaming 6.68 X 17. Dividends per share of common stock 0.80 18. Dividend Viola 1.2 X Check My Work Measures of liquidity, Solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 63 on December 31, 2012. Marshall Inc Comparative Retained Earnings statement For the Years Ended December 31, 2012 and 2011 2012 2011 Retained earnings, January 1 $2,337,000 $1,983,200 Net Income 510,400 405,200 Dividends On preferred stock On common stock Retained earnings, December 31 (8,400) (44,000) $2,803,000 (8,400) (44,000) $2,337,000 2011 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 2012 Sales $3,682,465 Cost of merchandise sold 1,312,500 Gross profit $2,160,045 Selling expenses 5046,240 Administrative expenses 720,065 Total operating expenses $1,567,105 income from operations 5003,640 Other venge and expense $3,392,030 1,207,540 $2,105,290 $1,019,760 59,900 $1,618,660 $66.630 Check My Work more Check My Women Amnistrave expenses 720,816 $1,567,105 $802,840 3918890 $1,618,660 $566,670 Total operating expenses Income from operations other revenue and expenses Other revenue other expense (Interest) Income before income tax expense Income tax expense 36,170 (140,000) 42,260 (256,000) $589,100 70,700 $518,400 $462,000 55,800 Net Income $405,200 Marshall Inc. Comparative Balance sheet December 31, 2012 and 2041 2012 2011 Assets Current assets: $862,550 1,305,480 642,400 Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets 481,800 163, 190 $507,390 840,810 605,900 365,000 101,480 $2,420,550 27,273 3,456,000 $5,903,853 $3,455,420 753,880 3,040,000 58,049,300 Liabilities Check My Work more Check My Wees remang Determine the following measures for 2012, rounding to one decimal place, except for dollar amounts, which should be rounded to t requirement, If required. Assume 365 days a year. 1. Working capital 2,439,120 2. Current ratio 3.4 3. Quick ratio 3.2 x 4. Accounts receivable turnover 5.9 62 X days 3.1 118X days 5. Number of days' sales in receivables 6. Inventory tumover 7. Number of days' sales In Inventory 3. Ratio of toxed assets to long-term liabilities . Ratio of liabilities to stockholders' equity 10. Time interest earned 11. Aset turnover 1.2 1.1 13 X 0.45 X 12. Rotum on total assets 6X 13. Retum on stockholders' equity 13.5 X 4 14. Return on common stockholders' equity 94.2 X 15. Earnings por share on common stock 9.42 X 16. Peaming 6.68 X 17. Dividends per share of common stock 0.80 18. Dividend Viola 1.2 X Check My Work