Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 70 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 Retained earnings, January 1 Net income Dividends: On preferred stock On common stock Retained earnings, December 31 20Y2 $3,329,700 790,400 20Y1 $2,805,000 574,500 (9,800) (40,000) $4,070,300 (9,800) (40,000) $3,329,700 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: 20Y2 20Y1 $5,340,680 $4,920,640 1,737,400 1,598,410 $3,603,280 $1,292,110 1,100,680 $3,322,230 $1,583,590 930,050 $2,392,790 $2,513,640 $1,210,490 $808,590 Other revenue 63,710 51,610 Other expense (interest) (376,000) (207,200) Income before income tax expense $898,200 $653,000 Income tax expense 107,800 78,500 Net income $790,400 $574,500 Marshall Inc. Comparative Balance Sheet Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Assets 20Y2 20Y1 $1,190,560 $841,550 1,801,920 1,394,560 934,400 876,000 700,800 540,200 225,242 168,310 $4,852,922 $3,820,620 1,674,708 844,966 5,170,000 $11,697,630 4,653,000 $9,318,586 Liabilities $1,427,330 $1,898,886 Total current assets Long-term investments Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Total liabilities $2,110,000 $0 2,590,000 $4,700,000 2,590,000 $2,590,000 $6,127,330 $4,488,886 Stockholders' Equity Preferred $0.70 stock, $50 par $700,000 $700,000 Common stock, $10 par 800,000 800,000 Retained earnings 4,070,300 Total stockholders' equity Total liabilities and stockholders' equity Required: $5,570,300 $11,697,630 3,329,700 $4,829,700 $9,318,586 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.