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Following is the balance sheet of Duluth Company for Year 3 DULUTH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment
Following is the balance sheet of Duluth Company for Year 3 DULUTH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets $ 36,000 24,000 50,000 44,000 320,000 (74,000) $400,000 Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings 23,000 7,000 8,000 43,000 200,000 119,000 $400,000 Total liabilities and stockholders' equity The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $40,000. Required Compute each of the following: (Round your answers to 2 decimal places.) 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 5.13 S 45.45 per share 3.67 10.00 % 12.54 %
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