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Following is the balance sheet of Franklin Company for Year 3: FRANKLIN COMPANY Balance sheet Assets Cash $ 15,200 Marketable securities 7,540 Accounts receivable 13,220

Following is the balance sheet of Franklin Company for Year 3:

FRANKLIN COMPANY Balance sheet
Assets
Cash $ 15,200
Marketable securities 7,540
Accounts receivable 13,220
Inventory 10,550
Property and equipment 173,500
Accumulated depreciation (12,100 )
Total assets $ 207,910
Liabilities and Stockholders' Equity
Accounts payable $ 8,720
Current notes payable 3,080
Mortgage payable 4,300
Bonds payable 21,240
Common stock 114,200
Retained earnings 56,370
Total liabilities and stockholders' equity $ 207,910

The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $14,800. 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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