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Following is the balance sheet of Faustin Companys for 2014. FAUSTIN COMPANY'S Balance sheet Assets Cash $ 14,900 Marketable securities 7,540 Accounts receivable 12,560 Inventory
Following is the balance sheet of Faustin Companys for 2014. |
FAUSTIN COMPANY'S Balance sheet | |||
Assets | |||
Cash | $ | 14,900 | |
Marketable securities | 7,540 | ||
Accounts receivable | 12,560 | ||
Inventory | 10,850 | ||
Property and equipment | 171,000 | ||
Accumulated depreciation | (12,700 | ) | |
Total assets | $ | 204,150 | |
Liabilities and Stockholders Equity | |||
Accounts payable | $ | 8,360 | |
Current notes payable | 3,120 | ||
Mortgage payable | 4,450 | ||
Bonds payable | 21,480 | ||
Common stock | 113,500 | ||
Retained earnings | 53,240 | ||
Total liabilities and stockholders equity | $ | 204,150 | |
The average number of common stock shares outstanding during 2014 was 870 shares. Net income for the year was $15,100. |
Required |
Compute each of the following: (Round your answers to 2 decimal places.) |
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