The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc....

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Accounting

The comparative financial statements of Marshall Inc. are asfollows. The market price of Marshall Inc. common stock was $ 53 onDecember 31, 20Y2.
Marshall Inc.
Comparative Retained EarningsStatement
For the Years Ended December 31, 20Y2 and20Y1
   20Y2    20Y1
Retained earnings, January 1 $ 3,643,250 $ 3,089,750
Net income 772,800 632,800
Total $ 4,257,450 $ 3,722,550
Dividends
On preferred stock $ 10,500 $ 10,500
On common stock 68,800 68,800
Total dividends $ 79,300 $ 79,300
Retained earnings, December 31 $ 4,336,750 $ 3,643,250

Marshall Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and20Y1
   20Y2    20Y1
Sales $ 4,474,170 $ 4,122,260
Cost of goods sold 1,708,200 1,571,540
Gross profit $ 2,765,970 $ 2,550,720
Selling expenses $ 895,360 $ 1,087,350
Administrative expenses 762,720 638,610
Total operating expenses 1,658,080 1,725,960
Income from operations $ 1,107,890 $ 824,760
Other income 58,310 52,640
$ 1,166,200 $ 877,400
Other expense (interest) 288,000 158,400
Income before income tax $ 878,200 $ 719,000
Income tax expense 105,400 86,200
Net income $ 772,800 $ 632,800

Marshall Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
   Dec. 31,20Y2    Dec. 31,20Y1
Assets
Current assets
Cash $ 731,010 $ 751,950
Marketable securities 1,106,390 1,246,100
Accounts receivable (net) 854,100 803,000
Inventories 642,400 496,400
Prepaid expenses 138,300 150,390
Total current assets $ 3,472,200 $ 3,447,840
Long-term investments 3,271,950 1,397,524
Property, plant, and equipment (net) 3,960,000 3,564,000
Total assets $ 10,704,150 $ 8,409,364
Liabilities
Current liabilities $ 1,157,400 $ 1,176,114
Long-term liabilities
Mortgage note payable, 8 % $ 1,620,000 $ 0
Bonds payable, 8 % 1,980,000 1,980,000
Total long-term liabilities $ 3,600,000 $ 1,980,000
Total liabilities $ 4,757,400 $ 3,156,114
Stockholders' Equity
Preferred $ 0.70 stock, $ 50 par $ 750,000 $ 750,000
Common stock, $ 10 par 860,000 860,000
Retained earnings 4,336,750 3,643,250
Total stockholders' equity $ 5,946,750 $ 5,253,250
Total liabilities and stockholders' equity $ 10,704,150 $ 8,409,364
Required:
Determine the following measures for 20Y2, rounding to onedecimal place, except for dollar amounts, which should be roundedto the nearest cent. Use the rounded answer of the requirement forsubsequent requirement, if required. Assume 365 days a year.
1. Working capital $ 2314800
2. Current ratio 3
3. Quick ratio 2.3
4. Accounts receivable turnover 5.4
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-termliabilities
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 %

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Answer 5 Number of days sales in receivables 365 Accounts receivable Sales Number of days sales in receivables 365 854100 4474170 Number of days sales in receivables 697 days Answer 6 Average inventory 642400 See Answer

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Marshall Inc.
Comparative Retained EarningsStatement
For the Years Ended December 31, 20Y2 and20Y1
			20Y2	20Y1
Retained earnings, January 1			$ 3,643,250	$ 3,089,750
Net income			772,800	632,800
Total			$ 4,257,450	$ 3,722,550
Dividends
	On preferred stock		$ 10,500	$ 10,500
	On common stock		68,800	68,800
		Total dividends	$ 79,300	$ 79,300
Retained earnings, December 31			$ 4,336,750	$ 3,643,250

Marshall Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and20Y1
	20Y2	20Y1
Sales	$ 4,474,170	$ 4,122,260
Cost of goods sold	1,708,200	1,571,540
Gross profit	$ 2,765,970	$ 2,550,720
Selling expenses	$ 895,360	$ 1,087,350
Administrative expenses	762,720	638,610
Total operating expenses	1,658,080	1,725,960
Income from operations	$ 1,107,890	$ 824,760
Other income	58,310	52,640
	$ 1,166,200	$ 877,400
Other expense (interest)	288,000	158,400
Income before income tax	$ 878,200	$ 719,000
Income tax expense	105,400	86,200
Net income	$ 772,800	$ 632,800

Marshall Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
			Dec. 31,20Y2	Dec. 31,20Y1
Assets
Current assets
	Cash		$ 731,010	$ 751,950
	Marketable securities		1,106,390	1,246,100
	Accounts receivable (net)		854,100	803,000
	Inventories		642,400	496,400
	Prepaid expenses		138,300	150,390
		Total current assets	$ 3,472,200	$ 3,447,840
Long-term investments			3,271,950	1,397,524
Property, plant, and equipment (net)			3,960,000	3,564,000
Total assets			$ 10,704,150	$ 8,409,364
Liabilities
Current liabilities			$ 1,157,400	$ 1,176,114
Long-term liabilities
	Mortgage note payable, 8 %		$ 1,620,000	$ 0
	Bonds payable, 8 %		1,980,000	1,980,000
		Total long-term liabilities	$ 3,600,000	$ 1,980,000
Total liabilities			$ 4,757,400	$ 3,156,114
Stockholders' Equity
Preferred $ 0.70 stock, $ 50 par			$ 750,000	$ 750,000
Common stock, $ 10 par			860,000	860,000
Retained earnings			4,336,750	3,643,250
	Total stockholders' equity		$ 5,946,750	$ 5,253,250
Total liabilities and stockholders' equity			$ 10,704,150	$ 8,409,364

1. Working capital	$ 2314800
2. Current ratio	3
3. Quick ratio	2.3
4. Accounts receivable turnover	5.4
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-termliabilities
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		%