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Following is the balance sheet of Adams Company for Year 3: ADAMS COMPANY Balance sheet Assets Cash $ 14,600 Marketable securities 8,020 Accounts receivable 12,680
Following is the balance sheet of Adams Company for Year 3: ADAMS COMPANY Balance sheet Assets Cash $ 14,600 Marketable securities 8,020 Accounts receivable 12,680 Inventory 10,750 Property and equipment 171,500 Accumulated depreciation (12,500) Total assets $205,050 Liabilities and Stockholders' Equity Accounts payable 8,510 Current notes payable 3,040 Mortgage payable 4,950 Bonds payable 21,060 Common stock 114,300 Retained earnings 53, 190 Total liabilities and stockholders' equity $205,050 The average number of common stock shares outstanding during Year 3 was 860 shares. Net income for the year was $16,000. 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 e. Return on equity f. Debt to equity ratio 17.09 per share 2.83 7.17% 8.85% 0.23
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