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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 common stock was $ 65 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 Net income Total Dividends: $4,508,850 $ 3,825,050 1,022,000 783,500 $5,530,850 $ 4,608,550 $ 13,300 $13,300 86,400 86,400 s 99,700 $99,700 Retained earnings, December 31 $5,431,150 508,850 On preferred stock On common stock Total dividends Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales Cost of goods sold Gross profit Selling expenses $ 6,372,170 $ 5,870,990 2,105,320 1,936,890 4,266,850 $ 3,934,100 s 1,499,00D $ 1,818, 300 Administrative expenses 1,276,920 1,067.890 operating expenses 2,775,920 2,886,190 1,490,930 $1,047,910 78,470 66,890 s 1,569,400 $ 1,114,800 408,000 224,800 Total Income from operations Other revenue Other expense (interest) ncome before income tax s 1,161,400 $890,000 139.400 106,500 1,022,000 $ 783,500 tax expense Net income