The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 62 on December 31, 20Y2. 20Y1 Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 20Y1 2012 20Y1 Retained earnings, January 1 $1,701,100 $1,438,000 Net income 369,200 294,500 Total $2,070,300 $1,732,500 Dividends: On preferred stock $11,900 $11,900 On common stock 19,500 19,500 Total dividends $31,400 $31,400 $377,520 625,620 401,500 248,200 75,500 $1,728,340 606,114 1,881,000 $4,215,454 Retained earnings, December 31 $2,038,900 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 2041 20Y2 Assets Current assets Cash $403,530 Marketable securities 610,750 Accounts receivable (net) 423,400 Inventories 321,200 Prepaid expenses 76,351 Total current assets $1,835,231 Long-term investments 1,335,679 Property, plant, and equipment (net) 2,090,000 Total assets $5,260,910 Liabilities Current liabilities $592,010 Long-term liabilities: Mortgage note payable, 8% $850,000 Bonds payable, 8% 1,050,000 Total long-term liabilities $1,900,000 Total liabilities $2,492,010 Stockholders' Equity Preferred $0.70 stock, $20 par $340,000 Common stock, $10 par 390,000 Retained earnings 2,038,900 Total stockholders' equity $2,768,900 Total liabilities and stockholders' equity $5,260,910 $1,701,100 $734,354 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 $0 1,050,000 $1,050,000 $1,784,354 Sales Cost of goods sold $2,309,720 882,570 $2,128,090 811,960 Gross profit $1,427,150 $1,316,130 Selling expenses $477,480 $581,030 $340,000 390,000 1,701,100 $2,431,100 $4,215,454 Administrative expenses 406,750 341,240 $884,230 $922,270 Total operating expenses Income from operations $542,920 $393,860 Other revenue 28,580 25,140 $419,000 $571,500 152,000 Other expense (interest) 84,000 Income before income tax $419,500 $335,000 Income tax expense 50,300 40,500 Net income $369,200 $294,500 Name 1. Determine the following measures for 2012, 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 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 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 yield The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2048, is as follows: Dec. 31, 2049 Dec. 31, 2048 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment Total assets $258,080 93,490 263,920 0 135,370 291,190 -68,170 $973,880 $238,410 85,630 253,520 98,220 0 224,140 -60,440 $839,480 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings Total liabilities and stockholders' equity $176,270 17,530 9,740 52,590 197,700 520,050 $973,880 $165,380 21,830 7,560 41,130 114,170 489,410 $839,480 Additional data obtained from an examination of the accounts in the ledger for 2049 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $88,400 cash. d. The common stock was issued for cash. e. There was a $70,100 credit to Retained Earnings for net income. f. There was a $39,460 debit to Retained Earnings for cash dividends declared. Name 35 Points Required: Prepare a statement of cash flows, using the indirect (or direct if you prefer) method of presenting cash flov operating activities. Use brackets () to indicate cash outflows, cash payments, decreases in cash, or any neg adjustments. Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Operating Activities Investing Activities Financing Activities