takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 55 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 Net Income $1,565,100 $1,324,800 340,800 Total 271,300 $1,596,100 $1,905,900 Dividends: On preferred stock On common stock $11,200 $11,200 19,800 Total dividends 19,800 $31,000 $31,000 Retained earnings, December 31 $1,874,900 $1,565,100 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 20Y1 Sales $2,142,915 $1,974,340 Cost of goods sold 740,950 681,670 Gross profit $1,292,670 $1,401,965 $488,610 416,225 Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue $904,835 $587,450 345,010 $932,460 $360,210 22,990 $383,200 75,200 $308,000 36,700 $271,300 $497,130 26,170 $523,300 136,000 $387,300 46,500 $340,800 Other expense interest) Income before income tax Income tax expense Net income com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2041 20Y2 2011 Assets Current assets Cash $414,150 $310,000 Marketable securities 626,820 513,700 Accounts receivable (net) 386,900 292,000 365,000 219,000 62,000 $1,469,700 Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets 78,360 $1,798,230 431,928 1,186,080 1,870,000 1,683,000 $3,584,628 $4,854,310 Liabilities $599,410 $399,528 Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total abilities $760,000 $0 940,000 $1,700,000 940,000 $940,000 $1,339,528 $2,299,410 $2,299,410 $1,339,528 Stockholders' Equity $320,000 360,000 Preferred $0.70 stock, $20 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $320,000 360,000 1,565,100 1,874,900 $2,554,900 $4,854,310 $2,245,100 $3,584,628 Required: Determine the following nieasures 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 1,198,820 2. Current ratio 3.0 3. Quick ratio 2.4 5.7 64.0 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 abilities 9. Ratio of liabilities to stockholders' equity 2.9 125.9 days 1.1 0.9 10. Times interest earned 38 11. Asset turnover 0.5 8.1 X % 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-carnis ratio 17. Dividends per share of common stock 18. Dividend yield