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Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 67 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2012 and 2011 2012 2by1 Retained earnings, January 1 $1,930,000 $1,621,800 444,000 332,200 Dividends: On preferred stock (5,600) (5,600) On common stock (18,400) (18,400) Retained earnings, December 31 $2,350,000 $1,930,000 Net Income Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2022 and 2041 2012 2011 Sales $2,995,920 $2,760,260 Cost of merchandise sold 1,022,000 Gross profit $1,973,920 940, 240 $1,820,020 $852,170 Selling expenses $696,300 $696,300 $852,170 593,150 Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: 500,480 $1,352,650 $1,289,450 $684,470 $467,370 Other revenue 36,030 29,830 (119,200) Other expense (Interest) Income before income tax expense (216,000) $504,500 $378,000 Income tax expense 60,500 45,800 Net income $444,000 $332,200 Marshall Inc. Comparative Balance Sheet December 31, 2012 and 2011 2012 2011 Assets Current assets: Cash $694,270 $447,880 1,050,780 742,210 Marketable securities Accounts receivable (net) Inventories 540,200 511,000 321,200 408,800 131,350 Prepaid expenses 89,580 Total current assets $2,825,400 $2,111,870 $2,111,870 $2,825,400 675,600 123,022 3,240,000 $6,741,000 2,916,000 $5,150,892 $831,000 $870,892 $0 Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities Stockholders' Equity Preferred $0.70 stock, $50 par Common stock, $10 par Retained earnings Total stockholders' equity $1,210,000 1,490,000 $2,700,000 $3,531,000 1,490,000 $1,490,000 $2,360,892 $400,000 460,000 2,350,000 $3,210,000 $6,741,000 $400,000 460,000 1,930,000 $2,790,000 Total liabilities and stockholders' equity $5,150,892 Required: Required: 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 1,994,400 2. Current ratio 3.4 3. Quick ratio 2.8 4. Accounts receivable turnover 5.7 5. Number of days' sales in receivables 64 days 6. Inventory turnover 2.8 7. Number of days' sales in inventory 130.4 days 1.2 8. Ratio of fixed assets to long-term liabilities 9. Ratio or liabilities to stockholders' equity 10. Times interest earned 1.1 3.3 11. Asset turnover 0.5 12. Return on total assets % 13. Return on stockholders' equity % 14. Retum on common stockholders' equity 17 % 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 7 0.4 18. Dividend yield 0.6 %

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