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 $ 63 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			$2,842,700		$2,403,100
   Net income			607,200		492,200
   Total			$3,449,900		$2,895,300
   Dividends:
   	On preferred stock		$8,400		$8,400
   	On common stock		44,200		44,200
   		Total dividends	$52,600		$52,600
   Retained earnings, December 31			$3,397,300		$2,842,700

   Marshall Inc.
   Comparative Income Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   	20Y2		20Y1
   Sales	$3,842,720		$3,540,510
   Cost of goods sold	1,328,600		1,222,310
   Gross profit	$2,514,120		$2,318,200
   Selling expenses	$872,330		$1,046,050
   Administrative expenses	743,090		614,340
   Total operating expenses	$1,615,420		$1,660,390
   Income from operations	$898,700		$657,810
   Other revenue	47,300		41,990
   	$946,000		$699,800
   Other expense (interest)	256,000		140,800
   Income before income tax	$690,000		$559,000
   Income tax expense	82,800		66,800
   Net income	$607,200		$492,200

   Marshall Inc.
   Comparative Balance Sheet
   December 31, 20Y2 and 20Y1
   			20Y2		20Y1
   Assets
   Current assets
   	Cash		$621,400		$541,520
   	Marketable securities		940,490		897,390
   	Accounts receivable (net)		708,100		664,300
   	Inventories		540,200		408,800
   	Prepaid expenses		117,563		108,300
   		Total current assets	$2,927,753		$2,620,310
   Long-term investments			1,799,117		26,696
   Property, plant, and equipment (net)			4,160,000		3,744,000
   Total assets			$8,886,870		$6,391,006
   Liabilities
   Current liabilities			$1,009,570		$508,306
   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			$4,209,570		$2,268,306
   Stockholders' Equity
   Preferred $0.70 stock, $50 par			$600,000		$600,000
   Common stock, $10 par			680,000		680,000
   Retained earnings			3,397,300		2,842,700
   Total stockholders' equity			$4,677,300		$4,122,700
   Total liabilities and stockholders' equity			$8,886,870		$6,391,006

   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		%