Print Item eBook Calculator Ch 17-3 Exercises and Problems Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 Retained earnings, January 1 $ 2,325,150 525,600 $ 1,959,650 401,400 $ 2,361,050 Net income Total $2,850,750 Dividends: On preferred stock On common stock Total dividends Retained earnings, December 31 $ 8,400 27,500 $ 35,900 $ 2,814,850 $ 8,400 27,500 $ 35,900 $ 2,325,150 Marshall Inc. 2011 Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 $ 3,058,335 1,058,500 $ 1,999,835 Sales Cost of goods sold $ 2,817,760 973,820 $1,843,940 Gross profit Check My Work 2 more Check My Work uses remaining Assignment Score: 0.0% Ch 17-3 Exercises and Problems eBook Calculator Print Item Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 2012 2011 Sales $ 3,058,335 $ 2,817,760 1,058,500 973,820 $ 1.999.835 $ 1,843,940 $ 679,110 $ 831,470 Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue 578,495 488,330 $1,257,605 $1,319,800 $ 742,230 39,070 $ 524,140 33,460 $ 781,300 Other expense (interest) Income before income tax Income tax expense Net Income 184,000 $597,300 71,700 $ 557,600 101,600 $ 456,000 54,600 $525.600 $ 401,400 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 2011 Check My Work 2 more Check My Work uses remaining Assignment Score: 0.0% esc Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 20Y2 2011 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses $ 504,690 763,860 554,800 408,800 95,490 $ 2,327,640 1,603,090 2,990,000 $ 6,920,738 $ 499,500 827,740 518,300 321,200 99,900 $ 2,266,640 570,753 2,691,000 $ 5,528,393 Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities $ 775,880 $ 903,243 Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities Stockholders' Equity $ 1,030,000 1,270,000 $ 2,300,000 $ 3,075,880 $0 1,270,000 $ 1,270,000 $2,173,243 Check My Work 2 more Check My Work uses remaining Assignment Score: 0.0% $ 480,000 550,000 Stockholders' Equity Preferred $0.70 stock, $40 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2,814,850 $ 480,000 550,000 2,325,150 $ 3,355,150 $ 5,528,393 $ 3,844,850 $ 6,920,730 Required: Determine the following measures for 2012, rounding to one decimal place, except for dollar amounts, which requirement, if required. Assume 365 days a year. 1. Working capital 2. Current ratio 3. Quick ratio 7 days 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity days 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity Check My Work 2 more Check My Work uses remaining. Assignment Score: 0.0% Required: Determine the following measures for 2012, 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 6. Inventory turnover 7. Number of days sales in inventory 3. Ratio of edassets to long-term anties 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. tamnings per share on common stock 16.Price camins ratio 17. Orviends per share of common stock 1. Dividend ved Cred y Work 2 more Check My Wo n g Previous Assignment Score: 0.0% Email Instructor Save and Die Submit Assignment for Grading