Measures of liquidity,Solvency, andProfitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall 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

$1,311,300

$1,117,100

Net income

292,000

228,800

Total

$1,603,300

$1,345,900

Dividends:

On preferred stock

$9,100

$9,100

On common stock

25,500

25,500

Total dividends

$34,600

$34,600

Retained earnings, December 31

$1,568,700

$1,311,300

Marshall Inc.

Comparative Income Statement

For the Years Ended December 31, 20Y2 and 20Y1

20Y2

20Y1

Sales

$1,737,400

$1,600,750

Cost of goods sold

678,900

624,590

Gross profit

$1,058,500

$976,160

Selling expenses

$339,820

$421,680

Administrative expenses

289,470

247,660

Total operating expenses

$629,290

$669,340

Income from operations

$429,210

$306,820

Other revenue

22,590

19,580

$451,800

$326,400

Other expense (interest)

120,000

66,400

Income before income tax

$331,800

$260,000

Income tax expense

39,800

31,200

Net income

$292,000

$228,800

Marshall Inc.

Comparative Balance Sheet

December 31, 20Y2 and 20Y1

20Y2

20Y1

Assets

Current assets

Cash

$281,660

$285,650

Marketable securities

426,300

473,370

Accounts receivable (net)

321,200

299,300

Inventories

248,200

189,800

Prepaid expenses

53,296

57,130

Total current assets

$1,330,656

$1,305,250

Long-term investments

913,874

258,290

Property, plant, and equipment (net)

1,800,000

1,620,000

Total assets

$4,044,530

$3,183,540

Liabilities

Current liabilities

$415,830

$482,240

Long-term liabilities:

Mortgage note payable, 8%

$670,000

$0

Bonds payable, 8%

830,000

830,000

Total long-term liabilities

$1,500,000

$830,000

Total liabilities

$1,915,830

$1,312,240

Stockholders' Equity

Preferred $0.70 stock, $20 par

$260,000

$260,000

Common stock, $10 par

300,000

300,000

Retained earnings

1,568,700

1,311,300

Total stockholders' equity

$2,128,700

$1,871,300

Total liabilities and stockholders' equity

$4,044,530

$3,183,540

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 shareof common stock

$

18.Dividend yield