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 $ 60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 2011 Retained earnings, January 1 $ 668,000 $ 784,800 170,400 Net income 136,800 Total $ 955,200 $ 804,800 Dividends On preferred stock On common stock $ 5,600 14,400 $ 5,600 14,400 Total dividends $ 20,000 Retained earnings, December 31 $ 20,000 $935,200 $ 784,800 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 20Y1 Sales $1,073,410 Cost of goods sold Gross profit $1,165,080 416,100 $ 748,980 $ 259,990 221,470 481,460 382,810 $ 690,600 $ 314,390 Selling expenses Administrative expenses Total operating expenses Income from operations 184,640 499,030 $ 191,570 $ 267,520 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 20Y2 20Y1 Sales $ 1,165,080 416,100 $1,073,410 382,810 Cost of goods sold Gross profit $ 748,980 $ 690,600 Selling expenses $ 259,990 $ 314,390 184,640 Administrative expenses 221,470 481,460 499,030 Total operating expenses Income from operations Other income $ 267,520 14,080 $ 191,570 12,230 $ 203,800 Other expense (interest) 48,800 $ 281,600 88,000 $ 193,600 23,200 Income before income tax $ 155,000 Income tax expense 18,200 $ 170,400 $ 136,800 Net income Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 Dec. 31, 20Y2 Assets Dec. 31, 2011 Current assets Cash $ 198,270 $ 168,000 278,410 Marketable securities 300,080 107 100 Arrinte roraimablo Inot 211 700 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 Dec. 31, 20Y2 Dec. 31, 2011 Assets Current assets Cash $ 198,270 300,080 $ 168,000 278,410 Marketable securities Accounts receivable (net) 197,100 116,800 Inventories 33,600 Prepaid expenses 211,700 160,600 37,510 $ 908,160 559,760 1,210,000 $ 2,677,920 Total current assets $ 793,910 53,456 Long-term investments Property, plant, and equipment (net) 1,089,000 $1,936,366 Total assets Liabilities $ 302,720 $ 201,566 Current liabilities $0 Long-term liabilities Mortgage note payable, 8 % Bonds payable, 8 % Total long-term liabilities 610,000 $ 490,000 610,000 $ 1,100,000 $1,402,720 $ 610,000 $ 811,566 Total liabilities Stockholders' Equity $ 160,000 180,000 $ 160,000 180,000 Preferred $ 0.70 stock, $ 20 par Common stock, $ 10 par Retained earnings Total stockholders' equity 935,200 $1,275,200 $ 2,677,920 784,800 $ 1,124,800 $ 1,936,366 Total liabilities and stockholders' equity Common stock, $ 10 par Retained earnings 180,000 935,200 $ 1,275,200 180,000 784,800 Total stockholders' equity $ 1,124,800 $ 1,936,366 $ 2,677,920 Total liabilities and stockholders' equity 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 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 days 5. Number of days' sales in receivables days 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 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
