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The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 57 on December 31, 20Y2. Marshall
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 57 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 | $4,139,900 | $3,502,400 | ||||
Net income | 960,000 | 717,300 | ||||
Dividends: | ||||||
On preferred stock | (11,900) | (11,900) | ||||
On common stock | (67,900) | (67,900) | ||||
Retained earnings, December 31 | $5,020,100 | $4,139,900 |
Marshall Inc. | ||||
Comparative Income Statement | ||||
For the Years Ended December 31, 20Y2 and 20Y1 | ||||
20Y2 | 20Y1 | |||
Sales | $6,568,175 | $6,051,550 | ||
Cost of merchandise sold | 2,201,680 | 2,025,550 | ||
Gross profit | $4,366,495 | $4,026,000 | ||
Selling expenses | $1,564,350 | $1,904,980 | ||
Administrative expenses | 1,332,595 | 1,118,790 | ||
Total operating expenses | $2,896,945 | $3,023,770 | ||
Income from operations | $1,469,550 | $1,002,230 | ||
Other revenue and expense: | ||||
Other revenue | 77,350 | 63,970 | ||
Other expense (interest) | (456,000) | (251,200) | ||
Income before income tax expense | $1,090,900 | $815,000 | ||
Income tax expense | 130,900 | 97,700 | ||
Net income | $960,000 | $717,300 |
Marshall Inc. | |||||||
Comparative Balance Sheet | |||||||
December 31, 20Y2 and 20Y1 | |||||||
20Y2 | 20Y1 | ||||||
Assets | |||||||
Current assets: | |||||||
Cash | $1,551,960 | $927,030 | |||||
Marketable securities | 2,348,910 | 1,536,230 | |||||
Accounts receivable (net) | 1,146,100 | 1,080,400 | |||||
Inventories | 861,400 | 657,000 | |||||
Prepaid expenses | 293,604 | 185,410 | |||||
Total current assets | $6,201,974 | $4,386,070 | |||||
Long-term investments | 1,322,236 | 155,667 | |||||
Property, plant, and equipment (net) | 6,840,000 | 6,156,000 | |||||
Total assets | $14,364,210 | $10,697,737 | |||||
Liabilities | |||||||
Current liabilities | $1,824,110 | $1,597,837 | |||||
Long-term liabilities: | |||||||
Mortgage note payable, 8% | $2,560,000 | $0 | |||||
Bonds payable, 8% | 3,140,000 | 3,140,000 | |||||
Total long-term liabilities | $5,700,000 | $3,140,000 | |||||
Total liabilities | $7,524,110 | $4,737,837 | |||||
Stockholders' Equity | |||||||
Preferred $0.70 stock, $50 par | $850,000 | $850,000 | |||||
Common stock, $10 par | 970,000 | 970,000 | |||||
Retained earnings | 5,020,100 | 4,139,900 | |||||
Total stockholders' equity | $6,840,100 | $5,959,900 | |||||
Total liabilities and stockholders' equity | $14,364,210 | $10,697,737 |
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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