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Following is the balance sheet of Fanning Company for Year 3. Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation FANNING
Following is the balance sheet of Fanning Company for Year 3. Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation FANNING COMPANY Balance sheet $14,650 8,100 13,340 11,000 173,500 (12,800) Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings $207,790 $8,390 3,960 4,550 21,660 113,900 55,330 $207,790 Total liabilities and stockholders' equity The average number of common stock shares outstanding during Year 3 was 860 shares. Net income for the year was $15,500. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) > Answer is not complete. a. Current ratio b. Earnings per share 47,090.00 per share C. Quick (acid-test) ratio d. Return on investment % e. Return on equity % f. Debt to equity ratio %
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