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Please help me find the answer for number #11. I found the answer it was 1.3 , then I change it to 1.25, then 1.26. but it was still wrong. so im so confused why it was wrong. it is only number # 11 that I couldn't find the correct answer. thanks ahead.

Measures of liquidity, solvency, and profitability

1. 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
   	20Y2	20Y1
   Retained earnings, January 1	$3,704,000	$3,264,000
   Net income	$ 600,000	$ 550,000
   Dividends:
   On preferred stock	(10,000)	(10,000)
   On common stock	(100,000)	(100,000)
   Increase in retained earnings	$ 490,000	$ 440,000
   Retained earnings, December 31	$4,194,000	$3,704,000

   Marshall Inc.
   Comparative Income Statement
   For the Years Ended December 31, 20Y2 and 20Y1
   	20Y2	20Y1
   Sales	$ 10,850,000	$10,000,000
   Cost of goods sold	(6,000,000)	(5,450,000)
   Gross profit	$ 4,850,000	$ 4,550,000
   Selling expenses	$ (2,170,000)	$ (2,000,000)
   Administrative expenses	(1,627,500)	(1,500,000)
   Total operating expenses	$(3,797,500)	$ (3,500,000)
   Operating income	$ 1,052,500	$ 1,050,000
   Other revenue and expense:
   Other revenue	99,500	20,000
   Other expense (interest)	(132,000)	(120,000)
   Income before income tax expense	$ 1,020,000	$ 950,000
   Income tax expense	(420,000)	(400,000)
   Net income	$ 600,000	$ 550,000

   Marshall Inc.
   Comparative Balance Sheet
   December 31, 20Y2 and 20Y1
   	20Y2	20Y1
   Assets
   Current assets:
   Cash	$1,050,000	$ 950,000
   Marketable securities	301,000	420,000
   Accounts receivable (net)	585,000	500,000
   Inventories	420,000	380,000
   Prepaid expenses	108,000	20,000
   Total current assets	$ 2,464,000	$2,270,000
   Long-term investments	800,000	800,000
   Property, plant, and equipment (net)	5,760,000	5,184,000
   Total assets	$ 9,024,000	$8,254,000
   Liabilities
   Current liabilities	$ 880,000	$ 800,000
   Long-term liabilities:
   Mortgage note payable, 6%	$ 200,000	$ 0
   Bonds payable, 4%	3,000,000	3,000,000
   Total long-term liabilities	$ 3,200,000	$3,000,000
   Total liabilities	$ 4,080,000	$3,800,000
   Stockholders Equity
   Preferred 4% stock, $5 par	$ 250,000	$ 250,000
   Common stock, $5 par	500,000	500,000
   Retained earnings	4,194,000	3,704,000
   Total stockholders equity	$ 4,944,000	$4,454,000
   Total liabilities and stockholders equity	$ 9,024,000	$8,254,000

   Determine the following measures for 20Y2. Round to one decimal place, including percentages, except for per-share amounts, which should be rounded to the nearest cent.

   1. Working Capital	$ 1,584,000
   2. Current ratio	2.8
   3. Quick ratio	2.2
   4. Accounts receivable turnover	20
   5. Number of days sales in receivables	18.3
   6. Inventory turnover	15
   7. Number of days sales in inventory	24.3
   8. Ratio of fixed assets to long-term liabilities	1.8
   9. Ratio of liabilities to stockholders equity	0.8
   10. Times interest earned	8.7
   11. Asset turnover
   12. Return on total assets	8.5	%
   13. Return on stockholders equity	12.8
   14. Return on common stockholders equity	13.3	%
   15. Earnings per share on common stock	$ 5.9
   16. Price-earnings ratio	14
   17. Dividends per share of common stock	$ 1
   18. Dividend yield	1.2

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