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Following is the balance sheet of Jordan Company for Year 3: JORDAN COMPANY Balance sheet Assets Cash $ 15,100 Marketable securities 8,060 Accounts receivable 12,980
Following is the balance sheet of Jordan Company for Year 3:
JORDAN COMPANY Balance sheet | |||
Assets | |||
Cash | $ | 15,100 | |
Marketable securities | 8,060 | ||
Accounts receivable | 12,980 | ||
Inventory | 11,200 | ||
Property and equipment | 174,500 | ||
Accumulated depreciation | (12,300 | ) | |
Total assets | $ | 209,540 | |
Liabilities and Stockholders Equity | |||
Accounts payable | $ | 8,780 | |
Current notes payable | 3,960 | ||
Mortgage payable | 4,650 | ||
Bonds payable | 21,480 | ||
Common stock | 114,100 | ||
Retained earnings | 56,570 | ||
Total liabilities and stockholders equity | $ | 209,540 | |
The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $15,700. 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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