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QUESTION 28 The following items are taken from the financial statements of Grove Company for 2014: Accounts payable $18,500 Accounts receivable 8,000 Accumulated depreciation-equipment 4,800 Bonds payable 18,000 Cash 24,000 Short-term Investment 10,000 Common stock 25,000 Cost of goods sold 27,000 Depreciation expense 4,800 Dividends 5,300 Equipment 44,000 Interest expense 2,500 Patents 7,500 Retained earnings, January 1 16,000 Salaries and wages expense 5,200 Sales revenue 50,500 Supplies 4,500 Please compute current ration (rounded in two decimal places). 1.73 2.51 1.97 2.27 QUESTION 29 Gilkey Corporation began the year with retained earnings of $390,000. During the year, the company issued $450,000 of common stock, recorded expenses of $700,000, and paid dividends of $150,000. If Gilkey's ending retained earnings was $500,000, what was the company's revenue for the year? $960,000 $1,950,000 $260,000 $650,000 QUESTION 27 For 2011 Fielder Corporation reported not income of $30,000; net sales $400,000, and average share outstanding 16,000. There were no. preferred dividends. What was the 2011 earnings per share? $0.08 $25.00 $1.875 $0.53 QUESTION 28 The following items are taken from the financial statements of Grove Company for 2014: Accounts payable $18,500 Accounts receivable 8,000 Accumulated depreciation-equipment 4,800 Bonds payable 18,000 Cash 24,000 Short-term Investment 10,000 Common stock 25,000 Cost of goods sold 27,000 Depreciation expense 1 4,800 Dividends 5,300 Equipment 44,000 Interest expense 2,500 Patents 7,500 Retained earnings, January 1 16,000 Salaries and wages expense 5,200 Sales revenue 50,500 Supplies 4,500 Please compute current ration (rounded in two decimal places). 1.73 2.51 1.97 2.27