Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 61 on December 31, 20Y2....

Measures of liquidity, Solvency, and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 61 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	$3,350,500		$2,822,200
Net income	748,800		578,100
Dividends:
	On preferred stock	(9,800)		(9,800)
	On common stock	(40,000)		(40,000)
Retained earnings, December 31	$4,049,500		$3,350,500

Marshall Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
	20Y2	20Y1
Sales	$4,270,500		$3,934,620
Cost of merchandise sold	1,608,920		1,480,210
Gross profit	$2,661,580		$2,454,410
Selling expenses	$844,790		$1,058,190
Administrative expenses	719,640		621,470
Total operating expenses	$1,564,430		$1,679,660
Income from operations	$1,097,150		$774,750
Other revenue and expense:
Other revenue	57,750		49,450
Other expense (interest)	(304,000)		(167,200)
Income before income tax expense	$850,900		$657,000
Income tax expense	102,100		78,900
Net income	$748,800		$578,100

Marshall Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
	20Y2	20Y1
Assets
Current assets:
	Cash	$736,150		$761,910
	Marketable securities	1,114,170		1,262,590
	Accounts receivable (net)	846,800		795,700
	Inventories	627,800		481,800
	Prepaid expenses	139,275		152,380
		Total current assets	$3,464,195		$3,454,380
Long-term investments	2,139,855		524,939
Property, plant, and equipment (net)	4,940,000		4,446,000
Total assets	$10,544,050		$8,425,319
Liabilities
Current liabilities	$1,194,550		$1,484,819
Long-term liabilities:
	Mortgage note payable, 8%	$1,710,000		$0
	Bonds payable, 8%	2,090,000		2,090,000
		Total long-term liabilities	$3,800,000		$2,090,000
Total liabilities	$4,994,550		$3,574,819
Stockholders' Equity
Preferred $0.70 stock, $50 par	$700,000		$700,000
Common stock, $10 par	800,000		800,000
Retained earnings	4,049,500		3,350,500
Total stockholders' equity	$5,549,500		$4,850,500
Total liabilities and stockholders' equity	$10,544,050		$8,425,319

Required:

Determine the following measures for 20Y2,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

Extracted text: 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned 11. Asset turnover