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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 $
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, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $2,866,400 $3,371,700 738,400 Net income 587,100 Total $4,110,100 $3,453,500 Dividends: On preferred stock $9,800 $9,800 72,000 On common stock 72,000 Total dividends $81,800 $81,800 Retained earnings, December 31 $4,028,300 $3,371,700 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Y1 Assets Current assets Cash $892,350 $695,650 1,152,790 Marketable securities 1,350,580 Accounts receivable (net) 839,500 788,400 Inventories 627,800 481,800 168,821 139,130 Prepaid expenses Total current assets $3,879,051 $3,257,770 926,018 Long-term investments 2,444,719 Property, plant, and equipment (net) 4,180,000 3,762,000 Total assets $10,503,770 $7,945,788 Liabilities Current liabilities $1,175,470 $984,088 Long-term liabilities: Mortgage note payable, 8% $0 Bonds payable, 8% $1,710,000 2,090,000 $3,800,000 $4,975,470 2,090,000 $2,090,000 Total long-term liabilities Total liabilities $3,074,088 Stockholders' Equity Preferred $0.70 stock, $50 par $700,000 $700,000 Common stock, $10 par 800,000 800,000 Retained earnings 4,028,300 3,371,700 $5,528,300 Total stockholders' equity Total liabilities and stockholders' equity $4,871,700 $7,945,788 $10,503,770 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 9,328,300 3.3 2. Current ratio 3. Quick ratio 8.3 4. Accounts receivable turnover 5. Number of days' sales in receivables 60.3 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
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