Measures of liquidity, Solvency and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 55 on December 31, 20Y2.

Marshall Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 20Y2 and 20Y1
			20Y2		20Y1
Retained earnings, January 1			$ 1,425,350		$ 1,211,550
Net income			303,600		248,100
Total			$ 1,728,950		$ 1,459,650
Dividends
	On preferred stock		$ 10,500		$ 10,500
	On common stock		23,800		23,800
		Total dividends	$ 34,300		$ 34,300
Retained earnings, December 31			$ 1,694,650		$ 1,425,350

Marshall Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
	20Y2		20Y1
Sales	$ 2,011,150		$ 1,852,960
Cost of goods sold	700,800		644,740
Gross profit	$ 1,310,350		$ 1,208,220
Selling expenses	$ 464,940		$ 552,480
Administrative expenses	396,060		324,480
Total operating expenses	861,000		876,960
Income from operations	$ 449,350		$ 331,260
Other income	23,650		21,140
	$ 473,000		$ 352,400
Other expense (interest)	128,000		70,400
Income before income tax	$ 345,000		$ 282,000
Income tax expense	41,400		33,900
Net income	$ 303,600		$ 248,100

Marshall Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
			Dec. 31, 20Y2		Dec. 31, 20Y1
Assets
Current assets
	Cash		$ 400,910		$ 260,960
	Marketable securities		606,780		432,450
	Accounts receivable (net)		357,700		335,800
	Inventories		262,800		204,400
	Prepaid expenses		75,839		52,190
		Total current assets	$ 1,704,029		$ 1,285,800
Long-term investments			971,806		266,295
Property, plant, and equipment (net)			1,760,000		1,584,000
Total assets			$ 4,435,835		$ 3,136,095
Liabilities
Current liabilities			$ 501,185		$ 190,745
Long-term liabilities
	Mortgage note payable, 8 %		$ 720,000		$ 0
	Bonds payable, 8 %		880,000		880,000
		Total long-term liabilities	$ 1,600,000		$ 880,000
Total liabilities			$ 2,101,185		$ 1,070,745
Stockholders' Equity
Preferred $ 0.70 stock, $ 20 par			$ 300,000		$ 300,000
Common stock, $ 10 par			340,000		340,000
Retained earnings			1,694,650		1,425,350
	Total stockholders' equity		$ 2,334,650		$ 2,065,350
Total liabilities and stockholders' equity			$ 4,435,835		$ 3,136,095

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
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		%

Measures of liquidity, Solvency and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 55 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 2011 Retained earnings, January 1 $ 1,425,350 $ 1,211,550 Net income 303,600 248,100 Total $ 1,728,950 $ 1,459,650 Dividends On preferred stock $ 10,500 $ 10,500 On common stock 23,800 23,800 Total dividends $ 34,300 $ 34,300 Retained earnings, December 31 $ 1,694,650 $ 1,425,350 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 2011 Sales $ 2,011, 150 $ 1,852,960 Cost of goods sold 700,800 644,740 Gross profit $ 1,310,350 $ 1,208,220 $ 464,940 $ 552,480 Selling expenses Administrative expenses 396,060 324,480 861,000 876,960 Total operating expenses Income from operations $ 449,350 $ 331,260 Other income 23,650 21,140 $ 473,000 $ 352,400 Other expense (interest) 128,000 70,400 Income before income tax $ 345,000 $ 282,000 Income tax expense 41,400 33,900 Net income $ 303,600 $ 248,100 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 Dec. 31, 20Y2 Assets Dec. 31, 2041 Current assets Cash $ 260,960 $ 400,910 606,780 432,450 357,700 335,800 262,800 204,400 Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) 75,839 52,190 $ 1,704,029 $ 1,285,800 266,295 971,806 1,760,000 1,584,000 Total assets $ 4,435,835 $ 3,136,095 Liabilities Current liabilities $ 501,185 $ 190,745 $ 720,000 $ 0 Long-term liabilities Mortgage note payable, 8 % Bonds payable, 8 % Total long-term liabilities 880,000 880,000 $ 880,000 $ 1,600,000 $ 2,101,185 Total liabilities $ 1,070,745 Stockholders' Equity Preferred $ 0.70 stock, $ 20 par Common stock, $ 10 par Retained earnings $ 300,000 340,000 1,694,650 $ 300,000 340,000 1,425,350 $ 2,065,350 Total stockholders' equity $ 2,334,650 Total liabilities and stockholders' equity $ 4,435,835 $ 3,136,095 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 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 %