The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 2012 Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Retained earnings, January 1 $3,704,000 $3,264,000 Net Income 600,000 550,000 Dividends: On preferred stock On common stock (10,000) (100,000) $4,194,000 (10,000) (100,000) $3,704,000 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 20Y2 2011 Sales $10,850,000 $10,000,000 Cost of merchandise sold 6,000,000 5,450,000 Gross profit $4,850,000 $4,550,000 Selling expenses $2,170,000 $2,000,000 Administrative expenses 1,627,500 1,500,000 Total operating expenses $3,797,500 $3,500,000 Income from operations $1,052,500 $1,050,000 Other revenue and expense: Other revenue 99,500 20,000 Other expense (interest) (132,000) (120,000) Income before income tax expense $1,020,000 $950,000 Income tax expense 420,000 400,000 Net income 5600,000 $550,000 Marshall In Check My Work ssignment Score: 38.89% All work saved Emal Instructor Save and Et Submit Assignmer Current assets: Cash $ 950,000 $1,050,000 301,000 Marketable securities 420,000 Accounts receivable (net) 585,000 500,000 Inventories 380,000 Prepaid expenses Total current assets 420,000 108,000 $2,464,000 20,000 $2,270,000 800,000 Long-term investments Property, plant, and equipment (net) Total assets 800,000 5,760,000 $9,024,000 5,184,000 $8,254,000 Liabilities Current liabilities $880,000 $800,000 Long-term liabilities: Mortgage note payable, 6% $0 $200,000 3,000,000 $3,000,000 $3,000,000 $3,200,000 Bonds payable, 4% Total long-term liabilities Total liabilities Stockholders' Equity Preferred 4% stock, $5 par Common stock, $5 par $4,000,000 $3,800,000 $250,000 $250,000 500,000 500,000 1. Working capital 1,584,000 2. Current ratio 2.8 3. Quick ratio 2.2 4. Accounts receivable turnover 20 18.3 days 5. Number of days' sales in receivables 6. Inventory turnover 15 7. Number of days' sales in inventory 24.3 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 vield