The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82 40 on December 31, 2012 Marshall Inc Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 20Y1 2042 2011 1 $3,262,000.00 2 Retained caminos January 1 3 Net income $3,712,000.00 590,000.00 $4,302,000.00 560,000.00 4 Total $3,822,000.00 3 Dividends: 6 On preferred stock On common stock $10,000.00 100,000.00 2 $10,000.00 100,000.00 $110,000.00 $5,712,000.00 1 Total dividends $110,000.00 $4,192,000.00 Retained earnings, December 31 For the Years Ended December 31, 20Y2 and 20Y1 20Y2 2011 1 $10,840,000.00 2 Sales $10,000,000.00 5,440,000.00 6,000,000.00 $4,840,000.00 $4,560,000.00 $2,000,000.00 3 Cost of goods sold 4 Gross profit 5 Selling expenses 6 Administrative expenses 7 Total operating expenses 8 Income from operations $2,160,000.00 1,627,500.00 $3,787,500.00 1,500,000.00 $3,500,000.00 $1,052,500.00 $1,060,000.00 99,500.00 20,000.00 9 Other revenue $1,152,000.00 $1,080,000.00 10 132,000.00 120,000.00 11 Other expense (interest) $960,000.00 12 Income before income tax $1,020,000.00 430,000.00 400,000.00 13 Income tax expense $590,000.00 $560,000.00 14 Net income Marshall Inc Comparative Balance Sheet December 31, 20Y2 and 2041 2012 2011 2 Assets Current assets Cash $950,000.00 5 Marketable securities 420,000.00 Accounts receivable (net) 500,000.00 51,050,000.00 301,000.00 584,000.00 410,000.00 107,000.00 52,452,000.00 Inventories 380,000.00 Prepaid expenses 20.000.00 9 Total current assets $2,270,000.00 800,000.00 800,000.00 10 Long-term investments 11 Property, plant, and equipment (net) 5,750,000.00 59,002,000.00 5,184,000.00 58.254,000.00 Total assets Liabilities 54 Current abilities $860,000.00 5792,000.00 50.00 15 Long-term liabilities: 15 Mortgage note payable, 6%, 17 Bonds payable,4% Total long-term liabilities $200,000.00 3,000,000.00 $3,200,000.00 3,000,000,00 $3,000,000.00 53,792,000.00 19 Total abilities $4,060,000.00 20 Stockholders' Equity 21 Preferred 4% stock, 55 par $250,000.00 22 Common stock, 55 par 500,000.00 23 Retained earnings 4.192,000.00 $250,000.00 500,000.00 3,712,000.00 $4,462.000,00 $8,254,000.00 74 Total stockholders uity $4,942,000.00 25 Total liabilities and stod holders epulty 59,002,000.00 1. Working Capital 1,592,000 2.9 2. Current ratio 3. Quick ratio 2.3 4. Accounts receivable turnover 20.0 5. Number of days' sales in receivables 18.3 15.2 24.0 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 1.8 0.8 10. Times interest earned 8.71 11. Asset turnover 1.37 12. Return on total assets % 12.5% 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 1.00 12 % 18. Dividend yield