eBook Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as fo

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Ebook Measures Of Liquidity Solvency And Profitability The Comparative Financial Statements Of Marshall Inc Are As Fo 1 (109.86 KiB) Viewed 11 times

eBook Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 63 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y1 Retained earnings, January 1 Net income Dividends: On preferred stock On common stock (6,300) (34,850) Retained earnings, December 31 $1,991,425 Sales Cost of merchandise sold Gross profit Selling expenses Marshall Inc. $1,668,575 364,000 Administrative expenses Total operating expenses Income from operations Other revenue and expense: 20Y2 Other revenue Other expense (interest) Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Income before income tax expense Income tax expense Net income $2,309,355 854,100 $1,455,255 $495,680 422,255 $917,935 $537,320 $1,419,025 290,700 28,280 (152,000) $413,600 49,600 $364,000 (6,300) (34,850) $1,668,575 $2,127,690 785,770 $1,341,920 $600,240 352,520 $952,760 $389,160 24,840 (84,000) $330,000 39,300 $290,700
Current assets: Cash Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Assets Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities Current liabilities Long-term labilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities Stockholders' Equity Preferred $0.70 stock, $40 par Common stock, $10 par Retained earnings 20Y1 $463,480 $356,420 701,490 590,640 416,100 394,200 321,200 248,200 87,692 71,290 $1,989,962 $1,660,740 1,166,746 508,849 2,090,000 1,881,000 $5,246,708 $4,050,589 $585,283 $562,014 $850,000 1,050,000 1,050,000 $1,900,000 $1,050,000 $2,485,283 $1,612,014 $0 $360,000 $360,000 410,000 410,000 1,991,425 1,668,575 $2,761,425 $2,438,575 $5,246,708 $4,050,589 Total stockholders' equity Total liabilities and stockholders' equity 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.
Determine the following measures days a year. 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 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory tumover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term labilities 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-eamings ratio 17. Dividends per share of common stock S 18. Dividend yield Dividentu s Feedback Check My Work 1. Subtract current liabilities from current assets. 2. Divide current assets. current liabilities. days days