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Following is the balance sheet of Solomon Company for Year 3: SOLOMON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment
Following is the balance sheet of Solomon Company for Year 3: SOLOMON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 14,700 8,220 12,680 10,900 168,500 (12,700) $202,300 $ 8,210 3,880 4,050 21,300 113,900 50,960 $202,300 The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $15,200. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment per share % e. Return on equity % f. Debt to equity ratio
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