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Following is the balance sheet of Fanning Company for Year 3: PANNING COMPANY Balance sheet Assets Cash $ 15,400 Marketable securities 7,940 Accounts receivable 13,400
Following is the balance sheet of Fanning Company for Year 3: PANNING COMPANY Balance sheet Assets Cash $ 15,400 Marketable securities 7,940 Accounts receivable 13,400 Inventory 10,750 Property and equipment 173,000 Accumulated depreciation 12,500) Total assets $207,990 Liabilities and stockholders. Equity Accounts payable $8,360 Current notes payable 3,280 Mortgage payable 4.350 Bonds payable 21,420 Common stock 113,500 Retained earnings 57,080 Total liabilities and stockholders' equity 5207,990 The average number of common stock shares outstanding during Year 3 was 860 shares. Net income for the year was $14,700. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) per share a. Current ratio Earnings per share Quick (acid-test) ratio d. Return on investment e. Return on equity t. Debt to equity ratio % %
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