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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 $82.60

Measures of liquidity, solvency, and profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2.

Line Item Description 20Y2 20Y1
Retained earnings, January 1 $3,704,000 $3,264,000
Net income $600,000 $550,000
Dividends:
On preferred stock (10,000) (10,000)
On common stock (100,000) (100,000)
Increase in retained earnings $490,000 $440,000
Retained earnings, December 31 $4,194,000 $3,704,000

Line Item Description 20Y2 20Y1
Sales $10,850,000 $10,000,000
Cost of goods sold (6,000,000) (5,450,000)
Gross profit $4,850,000 $4,550,000
Selling expenses $(2,170,000) $(2,000,000)
Administrative expenses (1,627,500) (1,500,000)
Total operating expenses $(3,797,500) $(3,500,000)
Operating income $1,052,500 $1,050,000
Other revenue and expense:
Other revenue 99,500 20,000
Other expense (interest) (132,000) (120,000)
Income before income tax expense $1,020,000 $950,000
Income tax expense (420,000) (400,000)
Net income $600,000 $550,000

Line Item Description 20Y2 20Y1
Assets
Current assets:
Cash $1,050,000 $950,000
Marketable securities 301,000 420,000
Accounts receivable (net) 585,000 500,000
Inventories 420,000 380,000
Prepaid expenses 108,000 20,000
Total current assets $2,464,000 $2,270,000
Long-term investments 800,000 800,000
Property, plant, and equipment (net) 5,760,000 5,184,000
Total assets $ 9,024,000 $8,254,000
Liabilities
Current liabilities $ 880,000 $ 800,000
Long-term liabilities:
Mortgage note payable, 6% $200,000 $0
Bonds payable, 4% 3,000,000 3,000,000
Total long-term liabilities $3,200,000 $3,000,000
Total liabilities $4,080,000 $3,800,000
Stockholders Equity
Preferred 4% stock, $5 par $250,000 $250,000
Common stock, $5 par 500,000 500,000
Retained earnings 4,194,000 3,704,000
Total stockholders equity $4,944,000 $4,454,000
Total liabilities and stockholders equity $9,024,000 $8,254,000

Determine the following measures for 20Y2. Round to one decimal place, including percentages, except for per-share amounts, which should be rounded to the nearest cent.

Line Item Description Answer Ratio Unit
1. Working Capital $fill in the blank 1
2. Current ratio fill in the blank 2
3. Quick ratio fill in the blank 3
4. Accounts receivable turnover fill in the blank 4
5. Days sales in receivables fill in the blank 5 days
6. Inventory turnover fill in the blank 6
7. Days sales in inventory fill in the blank 7 days
8. Ratio of fixed assets to long-term liabilities fill in the blank 8
9. Ratio of liabilities to stockholders equity fill in the blank 9
10. Times interest earned fill in the blank 10
11. Asset turnover fill in the blank 11
12. Return on total assets fill in the blank 12 %
13. Return on stockholders equity fill in the blank 13 %
14. Return on common stockholders equity fill in the blank 14 %
15. Earnings per share on common stock $fill in the blank 15
16. Price-earnings ratio fill in the blank 16
17. Dividends per share of common stock $fill in the blank 17
18. Dividend yield fill in the blank 18 %

I just need 11. Asset Turnover

Its not 1.3 by the way

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