Following is the balance sheet of Finch Company for Year 3. FINCH COMPANY Balance sheet Assets Cash
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Question:
Following is the balance sheet of Finch Company for Year 3.
FINCH COMPANY | |
Balance sheet | |
Assets | |
---|---|
Cash | $15,300 |
Marketable securities | 7,540 |
Accounts receivable | 12,740 |
Inventory | 10,750 |
Property and equipment | 172,500 |
Accumulated depreciation | (12,600) |
Total assets | $206,230 |
Liabilities and Stockholders Equity | |
Accounts payable | $8,960 |
Current notes payable | 3,200 |
Mortgage payable | 4,400 |
Bonds payable | 21,660 |
Common stock | 113,900 |
Retained earnings | 54,110 |
Total liabilities and stockholders equity | $206,230 |
The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $14,100.
Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.)
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Related Book For
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
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