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Following is the balance sheet of Rundle Company for Year 3: RUNDLE COMPANY Balance sheet Assets Cash $ 15,250 Marketable securities 8,100 Accounts receivable 12,680
Following is the balance sheet of Rundle Company for Year 3:
RUNDLE COMPANY Balance sheet | |||
Assets | |||
Cash | $ | 15,250 | |
Marketable securities | 8,100 | ||
Accounts receivable | 12,680 | ||
Inventory | 11,100 | ||
Property and equipment | 165,500 | ||
Accumulated depreciation | (12,600 | ) | |
Total assets | $ | 200,030 | |
Liabilities and Stockholders Equity | |||
Accounts payable | $ | 8,120 | |
Current notes payable | 3,680 | ||
Mortgage payable | 4,350 | ||
Bonds payable | 21,840 | ||
Common stock | 114,700 | ||
Retained earnings | 47,340 | ||
Total liabilities and stockholders equity | $ | 200,030 | |
The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $15,300.
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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