Measures of liquidity, Solvency and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 61 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 20Y1 Retained earnings, January 1 $ 4,742,200 $ 3,985,500 Net income 816,300 1,095,200 $ 5,837,400 Total $ 4,801,800 $ 14,000 Dividends On preferred stock On common stock Total dividends $ 14,000 45,600 45,600 $ 59,600 $ 59,600 Retained earnings, December 31 $ 5,777,800 $ 4,742,200 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 2041 20Y2 $ 6,828,785 2,540,400 20Y1 Sales Cost of goods sold Gross profit $ 6,291,710 2,337,170 $ 4,288,385 $ 3,954,540 Selling expenses $1,406,440 $ 1,769,820 Administrative expenses 1,198,075 1,039,420 Total operating expenses 2,604,515 2,809,240 Income from operations $ 1,683,870 $ 1,145,300 Other income 88,630 73,100 $ 1,218,400 $ 1,772,500 528,000 Other expense (interest) 290,400 $ 928,000 Income before income tax Income tax expense $ 1,244,500 149,300 111,700 Net income $ 1,095,200 $ 816,300 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Current assets Cash $ 1,560,770 2,362,250 1,328,600 $ 1,070,800 1,774,460 Marketable securities Accounts receivable (net) 1,248,300 Inventories 992,800 759,200 Prepaid expenses 295,278 214,160 $ 5,066,920 Total current assets Long-term investments Property, plant, and equipment (net) 163,414 $ 6,539,698 2,167,682 7,920,000 $ 16,627,380 7,128,000 Total assets $ 12,358,334 Liabilities Current liabilities $ 2,109,580 $ 1,846,134 Long-term liabilities Mortgage note payable, 8 % $ 0 Bonds payable, 8 % Total long-term liabilities $ 2,970,000 3,630,000 $ 6,600,000 $ 8,709,580 3,630,000 $ 3,630,000 $ 5,476,134 Total liabilities Stockholders' Equity Stockholders' Equity $ 1,000,000 Preferred $ 0.70 stock, $ 50 par Common stock, $ 10 par 1,140,000 $ 1,000,000 1,140,000 5,777,800 $ 7,917,800 Retained earnings 4,742,200 Total stockholders' equity $ 6,882,200 $ 12,358,334 Total liabilities and stockholders' equity $ 16,627,380 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 days 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
