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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 requi Assume 365 days a year. 1. Working capital 2. Current ratio 3. Quick ratio

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 requi Assume 365 days a year. 1. Working capital 2. Current ratio 3. Quick ratio

FINANCIAL ACCOUNTING
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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Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Long-term investments Property, plant, and equipment (net) Total assets Total liabilities Required: 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Preferred $0.70 stock, $40 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 6. Inventory tumover 7. Number of days' sales in inventory Assets 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest eamed 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15 Earings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield Liabilities Stockholders' Equity days days %6 % M 20Y2 % $1,080,330 1,635,090 970,900 730,000 204,385 $4,620,705 2,203,380 5,280,000 $12,104,085 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. $1,540,235 $2,160,000 2,640,000 $4,800,000 $6,340,235 $720,000 820,000 4,223,850 $5,763,850 $12,104,085 20Y1 $831,590 1,378,060 912,500 569,400 166,320 $3,857,870 799,559 4,752,000 $9,409,429 $1,733,279 $0 2,640,000 $2,640,000 $4,373,279 $720,000 820,000 3,496,150 $5,036,150 $9,409,429
Transcribed Image Text:Current assets: Cash Marketable securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Current liabilities Long-term liabilities: Mortgage note payable, 8% Bonds payable, 8% Total long-term liabilities Long-term investments Property, plant, and equipment (net) Total assets Total liabilities Required: 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 Preferred $0.70 stock, $40 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 6. Inventory tumover 7. Number of days' sales in inventory Assets 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest eamed 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity 15 Earings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield Liabilities Stockholders' Equity days days %6 % M 20Y2 % $1,080,330 1,635,090 970,900 730,000 204,385 $4,620,705 2,203,380 5,280,000 $12,104,085 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. $1,540,235 $2,160,000 2,640,000 $4,800,000 $6,340,235 $720,000 820,000 4,223,850 $5,763,850 $12,104,085 20Y1 $831,590 1,378,060 912,500 569,400 166,320 $3,857,870 799,559 4,752,000 $9,409,429 $1,733,279 $0 2,640,000 $2,640,000 $4,373,279 $720,000 820,000 3,496,150 $5,036,150 $9,409,429
Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $62 on December 31, 20Y2. 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 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net income 20Y2 $3,496,150 810,000 (12,600) (69,700) $4,223,850 20Y1 $2,970,150 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 608,300 (12,600) (69,700) $3,496,150 20Y2 $5,273,520 1,819,160 $3,454,360 $1,196,150 1,018,940 $2,215,090 $1,239,270 65,230 (384,000) $920,500 110,500 $810,000 20Y1 $4,858,760 1,673,630 $3,185,130 $1,472,350 864,710 $2,337,060 $848,070 54,130 (211,200) $691,000 82,700 $608,300
Transcribed Image Text:Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $62 on December 31, 20Y2. 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 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net income 20Y2 $3,496,150 810,000 (12,600) (69,700) $4,223,850 20Y1 $2,970,150 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 608,300 (12,600) (69,700) $3,496,150 20Y2 $5,273,520 1,819,160 $3,454,360 $1,196,150 1,018,940 $2,215,090 $1,239,270 65,230 (384,000) $920,500 110,500 $810,000 20Y1 $4,858,760 1,673,630 $3,185,130 $1,472,350 864,710 $2,337,060 $848,070 54,130 (211,200) $691,000 82,700 $608,300
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