Following is the balance sheet of Duluth Company for Year 3. DULUTH COMPANY Balance sheet Assets...
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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 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 $ 36,000 24,000 50,000 44,000 320,000 (74,000) $400,000 $ 23,000 7,000 8,000 43,000 200,000 119,000 $400,000 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 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 per share 96 % 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 Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 36,000 24,000 50,000 44,000 320,000 (74,000) $400,000 $ 23,000 7,000 8,000 43,000 200,000 119,000 $400,000 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 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 per share 96 %
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