Meatures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ Ouro Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 20Y1 2012 2011 Retained earnings, January 1 $2,813,600 $2,381,800 487,800 Net Income 668,800 Total $3,482,400 $2,869,600 Dividends: On preferred stock $8,400 On common stock 47,600 $8,400 47,600 $56,000 $2,813,600 Total dividends Retained earnings, December 31 $56,000 $3,426,400 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 2012 2011 Sales $3,679,200 $3,389,840 Cost of goods sold 1,357,800 1,249,180 Gross profit $2,321,400 $2,140,660 Check My Work $5,44 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2011 2011 Sales Cost of goods sold Gross profit 2012 $3,679,200 1,357,800 $2,321,400 $744,660 634,340 $1,379,000 $942,400 49,600 Selling expenses Administrative expenses Total operating expenses Income from operations $3,389,840 1,249,180 $2,140,660 $944,740 554,840 $1,499,580 $641,080 40,920 $682,000 128,000 $554,000 Other revenue Other expense (interest) $992,000 232,000 $760,000 Income before income to Income tax expense 91,200 Net Income 66,200 $487,800 $668,800 Marshall Inc. Comparative Balance Sheet December 11. 2012 and 2011 Check My Work All work saved Save an Comparative Balance Sheet December 31, 2012 and 2041 2012 20Y1 Assets Current assets Cash Marketable securities $616,050 932,400 678,900 511,000 $774,350 1,283,210 635,100 394,200 Accounts receivable (net) Inventories 116,546 Prepaid expenses Total current assets