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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 Inc. common stock was

Measures of liquidity, Solvency and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 55 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 $ 1,935,800 $ 1,641,200
Net income 450,000 336,200
Total $ 2,385,800 $ 1,977,400
Dividends
On preferred stock $ 14,000 $ 14,000
On common stock 27,600 27,600
Total dividends $ 41,600 $ 41,600
Retained earnings, December 31 $ 2,344,200 $ 1,935,800

Marshall Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
20Y2 20Y1
Sales $ 2,467,400 $ 2,273,380
Cost of goods sold 931,480 856,960
Gross profit $ 1,535,920 $ 1,416,420
Selling expenses $ 476,760 $ 608,800
Administrative expenses 406,130 357,550
Total operating expenses 882,890 966,350
Income from operations $ 653,030 $ 450,070
Other income 34,370 28,730
$ 687,400 $ 478,800
Other expense (interest) 176,000 96,800
Income before income tax $ 511,400 $ 382,000
Income tax expense 61,400 45,800
Net income $ 450,000 $ 336,200

Marshall Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
Dec. 31, 20Y2 Dec. 31, 20Y1
Assets
Current assets
Cash $ 417,680 $ 458,250
Marketable securities 632,160 759,380
Accounts receivable (net) 489,100 459,900
Inventories 365,000 277,400
Prepaid expenses 79,022 91,650
Total current assets $ 1,982,962 $ 2,046,580
Long-term investments 1,245,018 371,086
Property, plant, and equipment (net) 2,860,000 2,574,000
Total assets $ 6,087,980 $ 4,991,666
Liabilities
Current liabilities $ 683,780 $ 985,866
Long-term liabilities
Mortgage note payable, 8 % $ 990,000 $ 0
Bonds payable, 8 % 1,210,000 1,210,000
Total long-term liabilities $ 2,200,000 $ 1,210,000
Total liabilities $ 2,883,780 $ 2,195,866
Stockholders' Equity
Preferred $ 0.70 stock, $ 20 par $ 400,000 $ 400,000
Common stock, $ 10 par 460,000 460,000
Retained earnings 2,344,200 1,935,800
Total stockholders' equity $ 3,204,200 $ 2,795,800
Total liabilities and stockholders' equity $ 6,087,980 $ 4,991,666

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.

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

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