Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Thank you Also, How do I find interest expense? The comparative financial statements of Marshall Inc. are as fllows. The market price of Marshall Inc.
Thank you
Also, How do I find interest expense?
The comparative financial statements of Marshall Inc. are as fllows. The market price of Marshall Inc. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31. 20Y2 and 20YI 20Y2 20Y1 5 2.450,050 524,400 s 2.885,450 5 2,070,450 Net income Total s 2.494,550 On preferred stock 9, 100 35,400 44,500 s 2.450.050 35,400 Total dividends Retained earnings, December 31 2.929,950 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 Administrative expanses Total operating expenses Income from operations $ 3,394,500 1,122,010 2.272.490 818.850 97,540 1.516.390 s 756,100 39,800 795.900 200,000 595.900 3,127,570 1,032,250 2.095.320 s 969,230 569,230 1.538,460 s 556,860 35,540 $ 592.400 110,400 5 482,000 57.900 5 424,100 Other expense (interest) Income before income tax Income tax expense Net income 524,400 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Current Cash Marketsble securities Accounts receivable (net) 515.580 780,340 84,000 438,000 471.030 780,570 547,500 xpens9 2.415,465 1,956,442 3.000.000 7,271,910 2.229,110 507,752 2.700,000 s5,436,862 Property, plant, and equipment (net) Current labilities 496,812 Long-term liabilities Mortgage note payable, 8 % Bonds payable. 8 6 1.120,000 1-380,000 s 2.500,000 3.231.960 1-380,000 s1,380,000 51.876,812 Total long-term liabilities Total liabilities Preferred s 0.70 stock, $40 par Common stock, $10 par Retained earnings 520,000 590.000 2.929,950 4,039,950 7.271.910 5 520,000 390,000 Total stockholders aquity 3.560,050 5.436,862 Total liabilities and stockholders' equity 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. 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 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest eamed 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 1,683,508 V 3.3 2.6 60.8 days 2.9 125.9 days 1.2 0.8 0.7Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started