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My Home X CengageNOWv2 | Online teaching X + LO X F C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssign... @ V D . . . Ch 17-3 Exercises and Problems eBook Calculator Print Item 1. EX.17-01.ALGO Measures of liquidity, Solvency, and Profitability 2. EX.17-04.ALGO The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 62 on December 31, 20Y2. Marshall Inc. 3. EX.17-05.ALGO Comparative Retained Earnings Statement 4. EX.17-06.ALGO For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 5. EX.17-19.ALGO Retained earnings, January 1 $4,796,300 $4,058,800 Net income 1,021,200 831,300 6. EX.17-20.ALGO Total $5,817,500 $4,890,100 7. EX.17-21 ALGO Dividends: On preferred stock $14,000 $14,000 8. PR.17-04.ALGO On common stock 79,800 79,800 Total dividends $93,800 $93,800 Retained earnings, December 31 $5,723,700 $4,796,300 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $6,964,200 $6,416,470 Cost of goods sold 2,286,360 2,103,450 Gross profit $4,677,840 $4,313,020 Progress: 8/8 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 40.12% Email Instructor Save and Exit Submit Assignment for Grading 9 M 1 7 1 9:40My Home X CengageNOWv2 | Online teaching X + LO X F C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssign... @ V D . . . Ch 17-3 Exercises and Problems eBook Calculator Print Item 1. EX.17-01.ALGO Gross profit $4,677,840 $4,313,020 Selling expenses $1,709,080 $2,016,870 2. EX.17-04.ALGO Administrative expenses 1,455,890 1, 184,510 3. EX.17-05.ALGO Total operating expenses 3,164,970 :3,201,380 Income from operations $1,512,870 $1,111,640 4. EX.17-06.ALGO Other revenue 79,630 70,960 5. EX.17-19.ALGO $1,592,500 $1, 182,600 Other expense (interest) 432,000 237,600 6. EX.17-20.ALGO Income before income tax $1,160,500 $945,000 Income tax expense 7. EX.17-21 ALGO 139,300 113,700 Net income $1,021,200 831,300 8. PR.17-04.ALGO Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Y1 Assets Current assets Cash $1,089,350 $913,190 Marketable securities 1,648,750 1,513,290 Accounts receivable (net) 1,197,200 1,124,200 Inventories 890,600 686,200 Prepaid expenses 206,090 182,640 Progress: 8/8 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 40.12% Email Instructor Save and Exit Submit Assignment for Grading M 1 7 19:41My Home X CengageNOWv2 | Online teaching X + X F C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssign... @ V D . . . Ch 17-3 Exercises and Problems eBook Calculator Print Item 1. EX.17-01.ALGO Marshall Inc. Comparative Balance Sheet 2. EX.17-04.ALGO December 31, 20Y2 and 20Y1 3. EX.17-05.ALGO 20Y2 20Y1 Assets 4. EX.17-06.ALGO Current assets 5. EX.17-19.ALGO Cash $1,089,350 $913,190 Marketable securities 1,648,750 1,513,290 6. EX.17-20.ALGO Accounts receivable (net) 1,197,200 1,124,200 Inventories 7. EX.17-21 ALGO 890,600 686,200 Prepaid expenses 206,090 182,640 8. PR.17-04.ALGO Total current assets $5,031,990 $4,419,520 Long-term investments 3,429,040 27,804 Property, plant, and equipment (net) ,480,000 5,832,000 Total assets $14,941,030 $10,779,324 Liabilities Current liabilities $1,677,330 $873,024 Long-term liabilities: Mortgage note payable, 8% $2,430,000 Bonds payable, 8% 2,970,000 2,970,000 Total long-term liabilities $5,400,000 $2,970,000 Total liabilities $7,077,330 3,843,024 Stockholders' Equity Progress: 8/8 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 40.12% Email Instructor Save and Exit Submit Assignment for Grading M 1 7 19:41My Home X CengageNOWv2 | Online teaching X + X F C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssign... @ V D . . . Ch 17-3 Exercises and Problems eBook Calculator Print Item 1. EX.17-01.ALGO Stockholders' Equity Preferred $0.70 stock, $50 par $1,000,000 $1,000,000 2. EX.17-04.ALGO Common stock, $10 par 1,140,000 1,140,000 Retained earnings 5,723,700 1,796,300 3. EX.17-05.ALGO Total stockholders' equity $7,863,700 $6,936,300 4. EX.17-06.ALGO Total liabilities and stockholders' equity $14,941,030 $10,779,324 Required: 5. EX.17-19.ALGO 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 6. EX.17-20.ALGO required. Assume 365 days a year. 1. Working capital 7. EX.17-21 ALGO 2. Current ratio 8. PR.17-04.ALGO 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 Progress: 8/8 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 40.12% Email Instructor Save and Exit Submit Assignment for Grading 9 M 1 7 19:41My Home X CengageNOWv2 | Online teaching X + X F C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssign... @ Ch 17-3 Exercises and Problems eBook Calculator Print Item 1. EX.17-01.ALGO 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. 2. EX.17-04.ALGO 1. Working capital 3. EX.17-05.ALGO 2. Current ratio 3. Quick ratio 4. EX.17-06.ALGO 4. Accounts receivable turnover 5. EX.17-19.ALGO 5. Number of days' sales in receivables days 6. EX.17-20.ALGO 6. Inventory turnover 7. Number of days' sales in inventory days 7. EX.17-21 ALGO 8. Ratio of fixed assets to long-term liabilities 8. PR.17-04.ALGO 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 Progress: 8/8 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 40.12% Email Instructor Save and Exit Submit Assignment for Grading 9 M 1 7 19:42