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please help Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock
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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 $ 63 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 20Y1 20Y2 Retained earnings, January 1 Net Income Dividends: On preferred stock On common stock Retained earnings, December 31 $2,055,400 454,400 Sales Cost of merchandise sold Gross profit Selling expenses (7,700) (37,500) $2,464,600 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 2012 $2,871,090 1,016,160 $1,854,930 $642,360 20Y1 $1,743,500 357,100 (7,700) (37,500) $2,055,400 20Y1 $2,645,270 934,870 $1,710,400 $776,950 Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Marshall Inc. Other revenue Other expense (interest) Income before income tax expense Income tax expense Net income $2,871,090 1,016,160 $1,854,930 $642,360 547,190 $1,189,550 $665,380 35,020 (184,000) $516,400 62,000 $454,400 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 20Y1 20Y1 $2,645,270 934,870 $1,710,400 $776,950 456,310 $1,233,260 $477,140 30,460 (101,600) $406,000 48,900 $357,100 Step by Step Solution
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