Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 56 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $1,269,300 $1,078,900 Net income 292,000 221,000 Dividends: On preferred stock On common stock Retained earnings, December 31 Sales (9,800) (9,800) (20,800) $1,530,700 (20,800) $1,269,300 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 Cost of merchandise sold Gross profit Selling expenses Administrative expenses 2012 20Y1 $1,744,335 $1,607,130 572,320 526,530 $1,172,015 $1,080,600 $409,320 $498,030 348,685 292,490 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses. Income from operations 20Y2 20Y1 $1,744,335 $1,607,130 572,320 526,530 $1,172,015 $1,080,600 $409,320 $498,030 348,685 292,490 $758,005 $790,520 $414,010 $290,080 Other revenue and expense: Other revenue 21,790 18,520 Other expense (interest) (104,000) (57,600) Income before income tax expense $331,800 $251,000 Income tax expense 39,800 30,000 Net income $292,000 $221,000 Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Assets 20Y2 20Y1 $294,090 $303,430 445,110 502,810 306,600 284,700 233,600 175,200 55,648 60,690 $1,335,048 $1,326,830 940,212 505,339 1,560,000 1,404,000 $3,835,260 $3,236,169 Liabilities $404,560 $646,869 Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities $580,000 $0 720,000 720,000 $1,300,000 $720,000 $1,704,560 $1,366,869 Bonds payable, 8% Total long-term liabilities Total liabilities 720,000 720,000 $1,300,000 $720,000 $1,704,560 $1,366,869 Stockholders' Equity Preferred $0.70 stock, $20 par $280,000 $280,000 Common stock, $10 par 320,000 320,000 Retained earnings 1,530,700 1,269,300 Total stockholders' equity $2,130,700 $1,869,300 Total liabilities and stockholders' equity $3,835,260 $3,236,169 Required: Determine the following measures for 2012, rounding to one decimal place, except for dollar amour 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 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 930,488 3.3 2.6 5.9 61.9 days 2.8 130.4 days 1.2 0.8 4.2 V 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 130.4 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 days 1.2 0.8 4.2 0.5 11.2 % 14.6 % X % %