Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Coelho Corporation makes Christmas ornaments. They reported on its year - end financial statements for 2021 , the following : Cash $ 75,000 , Inventory

Coelho Corporation makes Christmas ornaments. They reported on its year - end financial statements for 2021 , the following : Cash $ 75,000 , Inventory $ 150.000 , Land $ 100,000 , Accounts Receivable $ 50,000 and Marketable Securities $ 25,000 . Coelho Corp had current liabilities of $ 80,000 , Bonds payable due in 3 years of $ 100,000 , Capital stock , $ 5 par value $ 100,000 and Retained earnings of $ 120,000 , up from $ 75,000 in 2019. Total liabilities and stockholders ' equity totaled $ 400,000 . Monica , the President announced the company declared and paid $ 16,000 of dividends . Compute the current ratio , the debt ratio and the earnings per share

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions