Chap 14 Q.4 eBookMeasures of liquidity, solvency, and profitabilityThe 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 StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2$3,704,000$600,000Retained earnings, January 1Net incomeDividends:On preferred stockOn common stockIncrease in retained earningsRetained earnings, December 31SalesCost of goods soldGross profitSelling expensesAdministrative expensesTotal operating expensesOperating incomeOther revenue and expense:Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y120Y220Y1$10,850,000 $10,000,000(6,000,000)(5,450,000)$4,850,000$4,550,000$(2,170,000)$(2,000,000)(1,627,500) (1,500,000)$(3,797,500) $(3,500,000)$1,052,500 $1,050,000Other revenueOther expense (interest)Income before income tax expenseIncome tax expenseNet incomeCurrent assets:CashMarshall Inc.AssetsMarketable securitiesAccounts receivable (net)Inventories(10,000)(10,000)(100,000) (100,000)$490,000$440,000$4,194,000$3,704,000Marshall Inc.Comparative Balance SheetDecember 31, 20Y2 and 20Y120Y1$3,264,000$550,000Prepaid expensesTotal current assetsLong-term investmentsProperty, plant, and equipment (net)99,500(132,000)$1,020,000(420,000)$600,000201220,000(120,000)$950,000(400,000)$550,00010.034.00020Y1$1,050,000301,000585,000420,000108,000$2,464,000 $2,270,000800,000800,0005,760,0005,184,000$950,000420,000500,000380,00020,000+0.254.000K eBookCurrent assets:CashMarketable securitiesAccounts receivable (net)InventoriesPrepaid expensesAssetsTotal current assetsLong-term investmentsProperty, plant, and equipment (net)Total assetsLiabilitiesCurrent liabilitiesLong-term liabilities:Mortgage note payable, 6%Bonds payable, 4%Total liabilitiesTotal long-term liabilitiesStockholders' EquityPreferred 4% stock, $5 parCommon stock, $5 parRetained earnings$1,050,000 $950,000420,000500,000380,00020,0001. Working Capital2. Current ratio3. Quick ratio4. Accounts receivable turnover5. Days' sales in receivables6. Inventory turnover7. Days' sales in inventory8. Ratio of fixed assets to long-term liabilities9. Ratio of liabilities to stockholders' equity10. Times interest earned11. Asset turnover12. Return on total assets13. Return on stockholders' equity14. Return on common stockholders' equity15. Earnings per share on common stock16. Price-earnings ratio17. Dividends per share of common stock18. Dividend yield301,000585,000420,000108,000$2,464,000 $2,270,000800,000800,0005,760,0005,184,000$9,024,000$8,254,000$ 880,000$200,000$03,000,0003,000,000$3,200,000 $3,000,000$4,080,000 $3,800,000$250,000 $250,000500,000500,0004,194,000 3,704,000$4,944,000 $4,454,000$9,024,000. $8,254,000$ 800,000Total stockholders' equityTotal liabilities and stockholders' equity.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.daysdays%%%%Home

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

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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