Answered step by step
Verified Expert Solution
Question
1 Approved Answer
20 points 1 Following is the balance sheet of Rundle Company for Year 3: RUNDLE COMPANY Balance sheet $14,950 8,340 13,100 10,900 Assets 04.12.19
20 points 1 Following is the balance sheet of Rundle Company for Year 3: RUNDLE COMPANY Balance sheet $14,950 8,340 13,100 10,900 Assets 04.12.19 Cash Marketable securities Accounts receivable Inventory Book Hint Print Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Retained earnings. Bonds payable Common stock References Total liabilities and stockholders' equity 172,000 (12,800) $206,490 $ 8,570 3,640 4,400 21,840 113,900 54,140 $206,490 The average number of common stock shares outstanding during Year 3 was 850 shares. Net income for the year was $14,500. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) a. Current ratio b. Earnings per share c Quick (acid-test) ratio d. Return on investment per share % e Return on equity % t Debt to equity ratio
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started