Measures of liquidity, Solvency, and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ $55$ on December $31,20$Y$2.$

Marshall Inc.

Comparative Retained Earnings Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Retained earnings, January $1$ $$1,557,000$ $$1,316,500$

Net income $355,200269,700$

Dividends:

On preferred stock $(11,200)(11,200)$

On common stock $(18,000)(18,000)$

Retained earnings, December $31$ $$1,883,000$ $$1,557,000$

Marshall Inc.

Comparative Income Statement

For the Years Ended December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Sales $$2,131,965$ $$1,964,270$

Cost of merchandise sold $694,960639,360$

Gross profit $$1,437,005$ $$1,324,910$

Selling expenses $$503,270$ $$611,790$

Administrative expenses $428,715359,300$

Total operating expenses $$931,985$ $$971,090$

Income from operations $$505,020$ $$353,820$

Other revenue and expense:

Other revenue $26,58022,580$

Other expense $($interest$)(128,000)(70,400)$

Income before income tax expense $$403,600$ $$306,000$

Income tax expense $48,40036,300$

Net income $$355,200$ $$269,700$

Marshall Inc.

Comparative Balance Sheet

December $31,20$Y$2$ and $20$Y$1$

$20$Y$220$Y$1$

Assets

Current assets:

Cash $$242,890$ $$388,040$

Marketable securities $367,620643,040$

Accounts receivable $($net$)372,300350,400$

Inventories $277,400219,000$

Prepaid expenses $45,95077,610$

Total current assets $$1,306,160$ $$1,678,090$

Long$-$term investments $1,547,240830,816$

Property, plant, and equipment $($net$)1,760,0001,584,000$

Total assets $$4,613,400$ $$4,092,906$

Liabilities

Current liabilities $$450,400$ $$975,906$

Long$-$term liabilities:

Mortgage note payable, $8\%$ $$720,000$ $$0$

Bonds payable, $8\%880,000880,000$

Total long$-$term liabilities $$1,600,000$ $$880,000$

Total liabilities $$2,050,400$ $$1,855,906$

Stockholders' Equity

Preferred $$0\mathrm{.}70$ stock, $$20$ par $$320,000$ $$320,000$

Common stock, $$10$ par $360,000360,000$

Retained earnings $1,883,0001,557,000$

Total stockholders' equity $$2,563,000$ $$2,237,000$

Total liabilities and stockholders' equity $$4,613,400$ $$4,092,906$

Required:

Determine the following measures for $20$Y$2,$ 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 $fill in the blank $1$

$2.$ Current ratio fill in the blank $2$

$3.$ Quick ratio fill in the blank $3$

$4.$ Accounts receivable turnover fill in the blank $4$

$5.$ Number of days' sales in receivables fill in the blank $5$

days

$6.$ Inventory turnover fill in the blank $6$

$7.$ Number of days' sales in inventory fill in the blank $7$

days

$8.$ Ratio of fixed assets to long$-$term liabilities fill in the blank $8$

$9.$ Ratio of liabilities to stockholders' equity fill in the blank $9$

$10.$ Times interest earned fill in the blank $10$

$11.$ Asset turnover fill in the blank $11$

$12.$ Return on total assets fill in the blank $12$

$\%$

$13.$ Return on stockholders$$ equity fill in the blank $13$

$\%$

$14.$ Return on common stockholders$$ equity fill in the blank $14$

$\%$

$15.$ Earnings per share on common stock $fill in the blank $15$

$16.$ Price$-$earnings ratio fill in the blank $16$

$17.$ Dividends per share of common stock $fill in the blank $17$

$18.$ Dividend yield fill in the blank $18$

$\%$