The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 60 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 Retained earnings, January 1 Net income Total Dividends: On preferred stock On common stock Total dividends Retained earnings, December 31 Sales 20Y2 $2,731,300 604,800 $3,336,100 20Y1 $2,322,900 475,800 $2,798,700 $9,800 $9,800 57,600 57,600 $67,400 $3,268,700 $67,400 $2,731,300 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 2012 $3,370,410 20Y1 $3,105,350 1,185,520 1,090,680 Cost of goods sold Gross profit $2,184,890 Selling expenses $716,450 Administrative expenses Total operating expenses $1,326,760 Income from operations Other revenue 610,310 $858,130 45,170 $903,300 $2,014,670 $878,270 515,810 $1,394,080 $620,590 39,610 $660,200