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The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 51 on December 31, 20Y2. Marshall
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 51 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 2012 Retained earnings, January 1 $1,954,250 Net income 420,000 20Y1 $1,662,250 340,500 Total $2,374,250 $2,002,750 Dividends: On preferred stock $14,000 On common stock 34,500 $14,000 34,500 $48,500 $1,954,250 Total dividends $48,500 $2,325,750 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 20Y1 $2,538,210 $2,338,550 Sales Cost of goods sold Gross profit 858,480 789,800 $1,679,730 $584,230 $1,548,750 $696,790 Selling expenses 497,670 409,220 Administrative expenses Total operating expenses Income from operations $1,106,010 $1,081,900 $597,830 31,470 $442,740 Other revenue 28,260 $629.300 $471.000 152,000 84,000 Other expense (interest) Income before income tax $477,300 $387,000 Income tax expense 57,300 46,500 Net income $420,000 $340,500 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 2012 20Y1 Assets Current assets Cash $516,130 $426,800 707,260 Marketable securities 781,170 Accounts receivable (net) 459,900 430,700 262,800 Inventories Prepaid expenses 350,400 97,640 85,360 Total current assets $2,205,240 Long-term investments 1,439,110 $1,912,920 871,730 1,881,000 Property, plant, and equipment (net) 2,090,000 Total assets $5,734,350 $4,665,650 Liabilities Current liabilities $648,600 $801,400 Long-term liabilities: Mortgage note payable, 8% $850,000 $0 Bonds payable, 8% Total long-term liabilities 1,050,000 $1,900,000 $2,548,600 1,050,000 $1,050,000 $1,851,400 Total liabilities Stockholders' Equity Preferred $0.70 stock, $20 par Common stock, $10 par $400,000 460,000 2,325,750 $400,000 460,000 1,954,250 Retained earnings Total stockholders' equity $3,185,750 $2,814,250 $5,734,350 $4,665,650 Total liabilities and stockholders' equity Required: 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 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 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
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