Measures of liquidity, Solvency, and Profitability 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 2012 2011 Retained earnings, January 1 $1,111,450 $1,309,050 292,000 Net income 227,700 Total $1,601,050 $1,339,150 Dividends: $9,100 $9,100 On preferred stock On common stock 21,000 21,000 Total dividends $30,100 $30,100 Retained earnings, December 31 $1,570,950 $1,309,050 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 2011 Sales $2,011,150 654,080 $1,852,960 601,750 Cost of goods sold Gross profit $1,357,070 $1,251.210 Selling expenses $587,980 $488,730 416,330 345,320 Administrative expenses Total operating expenses $905,060 $933,300 Income from operations $452,010 $317,910 20,290 Other revenue 23,790 Other expense (interest) Income before income tax $475,800 144,000 $331,800 $338,200 79,200 $259,000 Income tax expense 31,300 39,800 $292,000 Net Income $227,700 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 2042 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories $434,690 657,920 357,700 262,800 82,239 $296,080 490,650 335,800 204,400 59,220 Prepaid expenses Total current assets $1,795,349 Long-term investments $1,386,150 50,711 1,944,000 $3,380,861 519,646 2,160,000 $4,474,995 Property, plant, and equipment (net) Total assets Liabilities Current liabilities $544,045 $521,811 Long-term liabilities: Mortgage note payable, 8% $810,000 990,000 Bonds payable, 8% 990,000 $990,000 $1,800,000 Total long-term liabilities Total liabilities $2,344,045 $1,511,811 Stockholders' Equity Preferred $0.70 stock, $20 par Common stock, $10 par $260,000 300,000 $260,000 300,000 1,570,950 $2,130,950 Retained earnings 1,309,050 $1,869,050 Total stockholders' equity Total liabilities and stockholders' equity $4,474,995 $3,380,861 Required 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 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables days 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
