Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 2011 1 2 Retained earnings, January 1 $3.704,000.00 $3,264,000.00 3 Net income 600,000.00 550,000.00 4 Total $4.304.000.00 $3,814,000.00 5 Dividends: 6 On preferred stock $10,000.00 $10,000.00 7 On common stock 100.000.00 100,000.00 Total dividends $110,000.00 $110,000.00 9 Retained earnings, December 31 $4,194,000.00 $3.704,000.00 For the Years Ended December 31, 2012 and 20Y1 1 2042 2011 2 Sales $10,850,000.00 $10,000,000.00 6,000,000.00 5,450,000.00 3 Cost of goods sold 4 Gross profit $4,850,000.00 $4,550,000.00 5 Selling expenses $2,170,000.00 $2,000,000.00 6 Administrative expenses 1.627.500.00 1,500,000.00 7 Total operating expenses 8 Income from operations $3.797,500.00 $3,500,000.00 $1.052,500.00 9 Other income $1,050,000.00 99,500.00 10 20.000.00 11 Other expense (interest) $1.152,000.00 $1.070,000.00 12 Income before income tax 132.000.00 120,000.00 13 Income tax expense $1,020.000.00 $950,000.00 14 Net income 420,000.00 400,000.00 $600,000.00 $550.000.00 Instructions Questions Instructions Comparative Balance Sheet December 31, 2012 and 20Y1 1 2092 2011 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) 585,000.00 500,000.00 7 Inventories 420,000.00 380,000.00 108,000.00 20,000.00 8 Prepaid expenses Total current assets 9 $2.464,000.00 $2,270,000.00 10 Long-term investments 800,000.00 800,000.00 5,760.000,00 11 Property plant, and equipment (net) 12 Total assets 5.184.000.00 59,024,000.00 $8.254,000.00 13 Liabilities 14 Current liabilities 5880,000.00 $800,000.00 $0.00 $200,000.00 3.000.000.00 $3.200,000.00 3.000.000.00 $3.000.000.00 15 Long term liabilities: 16 Mortgage note payable.6% 17 Bonds payable.4% Total long-term Liabilities 19 Total liabilities 20 Stockholders Equity 21 Preferred 4 stock. 55 par 22 common stock. 55 par 25 Retained earings 14 Total stockholders' equity 75 Total abilities and stockholders' equity 54.080,000.00 $3,800,000.00 $250,000.00 $250,000.00 500,000.00 500,000.00 4,194,000.00 3.704,000.00 $4,454.000.00 54.944,000.00 $9.024.000,00 58.254,000.00 estions etermine the following measures for 20Y2 (round to one decimal place, including percentages, except for per she 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 foed 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 $0 96 % $