Financial statement data of Whitworth Engineering include the following items: Requirements 1. Compute Whitworths current ratio, debt

Financial statement data of Whitworth Engineering include the following items:

Requirements
1. Compute Whitworth’s current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places.
2. Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately.
a. Borrowed $150,000 on a long-term note payable
b. On January 1, issued 14,000 shares of common stock, receiving cash of $304,000
c. Paid short-term notes payable, $24,000
d. Purchased merchandise of $64,000 on account, debiting Inventory
e. Received cash on account,$15,000

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$107,000 35,000 s 23,000 Accounts payable Gash .. Short-term investments 36,000 Accrued liabilities.... Accounts receivable, net. 87,000 Long-term notes payable .163,000 141,000 Other long-term liabilities... Prepaid expenses 4,000 675,000 Net income Number of common 95,000 Short-term notes payable shares outstanding.... 51,000