Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assets Cash Marketable securities Accounts receivable Inventory Property and equipment RUNDLE COMPANY Balance sheet $ 15,000 8,460 12,740 Accumulated depreciation Total assets Liabilities and
Assets Cash Marketable securities Accounts receivable Inventory Property and equipment RUNDLE COMPANY Balance sheet $ 15,000 8,460 12,740 Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable. Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 11,200 168,500 (12,100) $203,800 $ 8,240 3,200 4,850 21,480 113,300 52,730 $203,800 The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $15,200. 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 % f. 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