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Following is the balance sheet of Fanning Company for Year 3: The average number of common stock shares outstanding during Year 3 was 890 shares.
Following is the balance sheet of Fanning Company for Year 3:
The average number of common stock shares outstanding during Year 3 was 890 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.)
FANNING 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 $ 15,350 8,020 13,220 11,250 174,500 (12,400) $ 209,940 $ 8,660 3,520 4,800 21,420 114,700 56,840 $ 209,940 per share 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 % %
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