1. The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 66 on December 31, 20Y2.

   Marshall Inc.
   Comparative Retained Earnings Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   			20Y2		20Y1
   Retained earnings, January 1			$784,800		$668,000
   Net income			170,400		136,800
   Total			$955,200		$804,800
   Dividends:
   	On preferred stock		$5,600		$5,600
   	On common stock		14,400		14,400
   		Total dividends	$20,000		$20,000
   Retained earnings, December 31			$935,200		$784,800

   Marshall Inc.
   Comparative Income Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   	20Y2		20Y1
   Sales	$1,037,330		$955,730
   Cost of goods sold	362,080		333,110
   Gross profit	$675,250		$622,620
   Selling expenses	$232,490		$279,610
   Administrative expenses	198,040		164,220
   Total operating expenses	$430,530		$443,830
   Income from operations	$244,720		$178,790
   Other revenue	12,880		11,410
   	$257,600		$190,200
   Other expense (interest)	64,000		35,200
   Income before income tax	$193,600		$155,000
   Income tax expense	23,200		18,200
   Net income	$170,400		$136,800

   Marshall Inc.
   Comparative Balance Sheet
   December 31, 20Y2 and 20Y1
   			20Y2		20Y1
   Assets
   Current assets
   	Cash		$136,380		$179,590
   	Marketable securities		206,410		297,600
   	Accounts receivable (net)		182,500		175,200
   	Inventories		131,400		102,200
   	Prepaid expenses		25,806		35,920
   		Total current assets	$682,496		$790,510
   Long-term investments			732,864		345,553
   Property, plant, and equipment (net)			880,000		792,000
   Total assets			$2,295,360		$1,928,063
   Liabilities
   Current liabilities			$220,160		$363,263
   Long-term liabilities:
   	Mortgage note payable, 8%		$360,000		$0
   	Bonds payable, 8%		440,000		440,000
   		Total long-term liabilities	$800,000		$440,000
   Total liabilities			$1,020,160		$803,263
   Stockholders' Equity
   Preferred $0.70 stock, $20 par			$160,000		$160,000
   Common stock, $10 par			180,000		180,000
   Retained earnings			935,200		784,800
   Total stockholders' equity			$1,275,200		$1,124,800
   Total liabilities and stockholders' equity			$2,295,360		$1,928,063

   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	$fill in the blank 1
   2. Current ratio	fill in the blank 2
   3. Quick ratio	fill in the blank 3
   4. Accounts receivable turnover	fill in the blank 4
   5. Number of days' sales in receivables	fill in the blank 5	days
   6. Inventory turnover	fill in the blank 6
   7. Number of days' sales in inventory	fill in the blank 7	days
   8. Ratio of fixed assets to long-term liabilities	fill in the blank 8
   9. Ratio of liabilities to stockholders' equity	fill in the blank 9
   10. Times interest earned	fill in the blank 10
   11. Asset turnover	fill in the blank 11
   12. Return on total assets	fill in the blank 12	%
   13. Return on stockholders equity	fill in the blank 13	%
   14. Return on common stockholders equity	fill in the blank 14	%
   15. Earnings per share on common stock	$fill in the blank 15
   16. Price-earnings ratio	fill in the blank 16
   17. Dividends per share of common stock	$fill in the blank 17
   18. Dividend yield	fill in the blank 18	%

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