Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 02 on December 31, 2012. Marshall Inc Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $2,829,200 S205.000 Net Income 651.200 192,800 Total $3,480,400 $2,898.800 Dividends: On preferred stock $8.400 $8,400 On common stock 61.200 61,200 Total dividends $69,600 $69,600 Retained earnings, December 31 $3,410,000 $2,629,200 + Marshall Inc. Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 Sales Cost of goods sold $3,386,450 1,265,970 $2,120,480 $920,890 Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations 540,840 $1,461,730 $3,675,550 1,376,050 $2,299,500 $730,780 622,520 $1,353,300 $946,200 49,800 $996,000 256,000 $740,000 88,800 $651,200 $658,750 Other revenue 42,050 $700,800 140,800 Other expense (interest) Income before income tax Income tax expense $560,000 67,200 $492,800 Net income Marshall Toc Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 2012 2011 Assets Current assets Cash $667,610 Marketable securities $745,140 1,127,790 715,400 540,200 1,106,340 671,600 Accounts receivable (net) Inventories 408,800 133,520 140,974 Prepaid expenses Total current assets $3,269,504 $2,987,870 2,123,016 Long-term investments 3,520,000 1,131,610 3,168,000 $7,287,480 Property, plant, and equipment (net) $8,912,520 Total assets Liabilities Chad Muar Prepaid expenses 140,974 133,520 Total current assets $3,269,504 $2,987,870 Long-term investments 2,123,016 1,131,610 Property, plant, and equipment (net) 3,520,000 3,168,000 Total assets + $8,912,520 $7,287,480 Liabilities Current liabilities $1,021,720 $1,418,280 Long-term liabilities: Mortgage note payable, 8% $1,440,000 $0 Bonds payable, 8% 1,760,000 1,760,000 Total long-term liabilities $3,200,000 $1,760,000 Total liabilities $4,221,720 $3,178,280 Stockholders' Equity Preferred $0.70 stock, $50 par $600,000 $600,000 Common stock, $10 par 680,000 680,000 Retained earnings 3,410,800 2,829,200 Total stockholders' equity $4,690,800 $4,109,200 Total liabilities and stockholders' equity $8,912,520 $7,287,480 Required: Determine the following measures for 2012, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest days a year. Ulat duces at Stockholders equity $8,912 520 $7/287 480 Required: Determine the following measures for 2072. 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
