Measures of liquidity, solvency, and profitability 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.  can u answer sub parts 7, 8 ,9 1. Working Capital $fill in the blank 1   2. Current ratio fill in the blank 2   3. Quick ratio fill in the blank 3   4. Accounts receivable turnover fill in the blank 4   5. Number of days’ sales in receivables fill in the blank 5   6. Inventory turnover fill in the blank 6   7. Number of days’ sales in inventory fill in the blank 7   8. Ratio of fixed assets to long-term liabilities fill in the blank 8   9. Ratio of liabilities to stockholders’ equity fill

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Chapter1: Financial Statements And Business Decisions
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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 $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. 

can u answer sub parts 7, 8 ,9

1. Working Capital $fill in the blank 1  
2. Current ratio fill in the blank 2  
3. Quick ratio fill in the blank 3  
4. Accounts receivable turnover fill in the blank 4  
5. Number of days’ sales in receivables fill in the blank 5  
6. Inventory turnover fill in the blank 6  
7. Number of days’ sales in inventory fill in the blank 7  
8. Ratio of fixed assets to long-term liabilities fill in the blank 8  
9. Ratio of liabilities to stockholders’ equity fill in the blank 9  
10. Times interest earned fill in the blank 10  
11. Asset turnover fill in the blank 11  
12. Return on total assets fill in the blank 12 %
13. Return on stockholders’ equity fill in the blank 13 %
14. Return on common stockholders’ equity fill in the blank 14 %
15. Earnings per share on common stock $fill in the blank 15  
16. Price-earnings ratio fill in the blank 16  
17. Dividends per share of common stock $fill in the blank 17  
18. Dividend yield fill in the blank 18 %
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