Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 62 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 $2,037,050 $1,713,750 Retained earnings, January 1 Net income 473,600 351,000 Total $2,510,650 $2,064,750 Dividends: On preferred stock $7,700 $7,700 20,000 20,000 On common stock Total dividends $27,700 $27,700 Retained earnings, December 31 $2,482,950 $2,037,050 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Sales $2,308,360 Cost of goods sold 856,960 $2,505,360 931,480 $1,573,880 $487,610 Gross profit $1,451,400 Selling expenses $623,140 Administrative expenses 415,380 365,970 Total operating expenses $989,110 Income from operations $902,990 $670,890 35,310 $462,290 29,510 Other revenue $491,800 $706,200 168,000 92,800 $538,200 $399,000 Other expense (interest) Income before income tax Income tax expense Net income 48,000 64,600 $473,600 $351,000 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2011 2012 2011 Assets Current assets Cash $460,720 $499,340 697,310 827,480 467,200 496,400 365,000 277,400 Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) 87,158 99,870 $2,106,588 $2,171,290 1,324,722 667,543 2,730,000 2,457,000 Total assets $6,161,310 $5,295,833 Liabilities Current liabilities $638,360 $1,158,783 Long-term liabilities: $940,000 $0 Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities 1,160,000 1,160,000 $2,100,000 $1,160,000 Total liabilities $2,738,360 $2,318,783 Stockholders' Equity Preferred $0.70 stock, $40 par $440,000 $440,000 Common stock, $10 par 500,000 500,000 Retained earnings 2,482,950 2,037,050 Total stockholders' equity $3,422,950 $2,977,050 Total liabilities and stockholders' equity $6,161,310 $5,295,833 Required: Determine the following measures for 2082, 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 common stock was $ 53 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 2012 2011 Retained earnings, January 1 $3,917,950 $3,331,450 Net income 840,000 682,400 Total $4,757,950 $4,013,850 Dividends: On preferred stock $14,000 $14,000 On common stock 81,900 81,900 Total dividends $95,900 $95,900 Retained earnings, December 31 $4,662,050 $3,917,950 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 Sales $5,273,520 $4,858,760 Cost of goods sold 2,014,070 1,852,940 Gross profit $3,259,450 $3,005,820 $1,089,870 $1,320,060 928,410 775,280 Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue $2,018,280 $2,095,340 $1,241,170 $910,480 58,120 65,330 $1,306,500 $968,600 193,600 Other expense interest) Income before income tax Income tax expense Net income 352,000 $954,500 114,500 $775,000 92,600 $840,000 $682,400 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 2012 Assets 2011 Current assets Cash $852,340 1,290,040 970,900 $826,010 1,368,830 Marketable securities Accounts receivable (net) Inventories 912,500 730,000 569,400 Prepaid expenses 161,255 165,200 $4,004,535 $3,841,940 Total current assets Long-term investments Property, plant, and equipment (net) 2,822,360 776,642 5,280,000 4,752,000 Total assets $12,106,895 $9,370,582 Liabilities Current liabilities $1,334,845 $1,322,632 Long-term liabilities: $0 Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities $1,980,000 2,420,000 2,420,000 $4,400,000 $2,420,000 Total liabilities $5,734,845 $3,742,632 Stockholders' Equity Preferred $0.70 stock, $40 par $800,000 $800,000 Common stock, $10 par 910,000 910,000 Retained earnings 4,662,050 3,917,950 Total stockholders' equity $6,372,050 $5,627,950 Total liabilities and stockholders' equity $12,106,895 $9,370,582 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 %