The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20? 20Y1 $3,704,000.00 $3,264,000.00 550,000.00 $4,304,000.00 3,814,000.00 2Retained earnings, January 1 3 Net income 600,000.00 Total 5 Dividends: 6On preferred stock 7 1 On common stock $10,000.00 100,000.00 $110,000.00 $4,194,000.00 $3,704,000.00 $10,000.00 100,000.00 $110,000.00 Total dividends 9 Retained earnings, December 31 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 2 Sales 3 Cost of goods sold 4Gross profit 5 Selling expenses 6 Administrative expenses $10,850,000.00 $10,000,000.00 5,450,000.00 4,850,000.00 $4,550,000.00 $2,170,000.00 $2,000,000.00 1,500,000.00 $3,797,500.00 $3,500,000.00 6,000,000.00 1,627,500.00 | Total operating expenses