1. 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 20Y1
   			20Y2		20Y1
   Retained earnings, January 1			$3,487,200		$2,938,900
   Net income			799,200		601,900
   Total			$4,286,400		$3,540,800
   Dividends:
   	On preferred stock		$12,600		$12,600
   	On common stock		41,000		41,000
   		Total dividends	$53,600		$53,600
   Retained earnings, December 31			$4,232,800		$3,487,200

   Marshall Inc.
   Comparative Income Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   	20Y2		20Y1
   Sales	$5,179,350		$4,771,960
   Cost of goods sold	2,014,070		1,852,940
   Gross profit	$3,165,280		$2,919,020
   Selling expenses	$1,046,350		$1,308,840
   Administrative expenses	891,340		768,690
   Total operating expenses	$1,937,690		$2,077,530
   Income from operations	$1,227,590		$841,490
   Other revenue	64,610		53,710
   	$1,292,200		$895,200
   Other expense (interest)	384,000		211,200
   Income before income tax	$908,200		$684,000
   Income tax expense	109,000		82,100
   Net income	$799,200		$601,900

   Marshall Inc.
   Comparative Balance Sheet
   December 31, 20Y2 and 20Y1
   			20Y2		20Y1
   Assets
   Current assets
   	Cash		$1,205,960		$773,650
   	Marketable securities		1,825,240		1,282,050
   	Accounts receivable (net)		970,900		912,500
   	Inventories		730,000		569,400
   	Prepaid expenses		228,156		154,730
   		Total current assets	$4,960,256		$3,692,330
   Long-term investments			1,402,624		129,361
   Property, plant, and equipment (net)			5,760,000		5,184,000
   Total assets			$12,122,880		$9,005,691
   Liabilities
   Current liabilities			$1,550,080		$1,338,491
   Long-term liabilities:
   	Mortgage note payable, 8%		$2,160,000		$0
   	Bonds payable, 8%		2,640,000		2,640,000
   		Total long-term liabilities	$4,800,000		$2,640,000
   Total liabilities			$6,350,080		$3,978,491
   Stockholders' Equity
   Preferred $0.70 stock, $40 par			$720,000		$720,000
   Common stock, $10 par			820,000		820,000
   Retained earnings			4,232,800		3,487,200
   Total stockholders' equity			$5,772,800		$5,027,200
   Total liabilities and stockholders' equity			$12,122,880		$9,005,691

   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		%