Determine the following measures for Marshall Inc. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Retained earnings, January 1 $3,692,000.00 $3,262,000.00 3 Net income 610,000.00 540,000.00 4 Total $4,302,000.00 $3,802,000.00 5 Dividends: 6 On preferred stock $10,000.00 $10,000.00 7 On common stock 100,000.00 100,000.00 8 Total dividends $110,000.00 $110,000.00

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Determine the following measures for Marshall Inc.

Marshall Inc.

Comparative Retained Earnings Statement

For the Years Ended December 31, 20Y2 and 20Y1

1


20Y2

20Y1

2

Retained earnings, January 1

$3,692,000.00

$3,262,000.00

3

Net income

610,000.00

540,000.00

4

Total

$4,302,000.00

$3,802,000.00

5

Dividends:



6

On preferred stock

$10,000.00

$10,000.00

7

On common stock

100,000.00

100,000.00

8

Total dividends

$110,000.00

$110,000.00

9

Retained earnings, December 31

$4,192,000.00

$3,692,000.00

Marshall Inc.

Comparative Income Statement

For the Years Ended December 31, 20Y2 and 20Y1

1


20Y2

20Y1

2

Sales

$10,860,000.00

$10,000,000.00

3

Cost of goods sold

6,000,000.00

5,460,000.00

4

Gross profit

$4,860,000.00

$4,540,000.00

5

Selling expenses

$2,160,000.00

$2,000,000.00

6

Administrative expenses

1,627,500.00

1,500,000.00

7

Total operating expenses

$3,787,500.00

$3,500,000.00

8

Income from operations

$1,072,500.00

$1,040,000.00

9

Other revenue

99,500.00

20,000.00

10


$1,172,000.00

$1,060,000.00

11

Other expense (interest)

132,000.00

120,000.00

12

Income before income tax

$1,040,000.00

$940,000.00

13

Income tax expense

430,000.00

400,000.00

14

Net income

$610,000.00

$540,000.00

Marshall Inc.

Comparative Balance Sheet

December 31, 20Y2 and 20Y1

1


20Y2

20Y1

2

Assets



3

Current assets:



4

Cash

$1,050,000.00

$950,000.00

5

Marketable securities

301,000.00

420,000.00

6

Accounts receivable (net)

584,000.00

500,000.00

7

Inventories

430,000.00

380,000.00

8

Prepaid expenses

109,000.00

20,000.00

9

Total current assets

$2,474,000.00

$2,270,000.00

10

Long-term investments

800,000.00

800,000.00

11

Property, plant, and equipment (net)

5,750,000.00

5,184,000.00

12

Total assets

$9,024,000.00

$8,254,000.00

13

Liabilities



14

Current liabilities

$882,000.00

$812,000.00

15

Long-term liabilities:



16

Mortgage note payable, 6%,

$200,000.00

$0.00

17

Bonds payable, 4%,

3,000,000.00

3,000,000.00

18

Total long-term liabilities

$3,200,000.00

$3,000,000.00

19

Total liabilities

$4,082,000.00

$3,812,000.00

20

Stockholders’ Equity



21

Preferred 4% stock, $5 par

$250,000.00

$250,000.00

22

Common stock, $5 par

500,000.00

500,000.00

23

Retained earnings

4,192,000.00

3,692,000.00

24

Total stockholders’ equity

$4,942,000.00

$4,442,000.00

25

Total liabilities and stockholders’ equity

$9,024,000.00

$8,254,000.00

Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): Assume a 365-day year.

1.Working capital
2.Current ratio
3.Quick ratio
4.Accounts receivable turnover
5.Number of days’ sales in receivables
6.Inventory turnover
7.Number of days’ sales in inventory
8.Ratio of fixed assets to long-term liabilities
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-earnings ratio
17.Dividends per share of common stock
18.Dividend yield

Questions

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Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): Assume a 365-day year.

1. Working Capital$
2. Current ratio
3. Quick ratio
4. Accounts receivable turnover
5. Number of days' sales in receivables
6. Inventory turnover
7. Number of days’ sales in inventory
8. Ratio of fixed assets to long-term liabilities
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-earnings ratio
17. Dividends per share of common stock$
18. Dividend yield%
Related Book For  answer-question

Accounting

27th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

ISBN: 978-1337899451