Question
Following is the balance sheet of Solomon Company for Year 3: SOLOMON COMPANY Balance sheet Assets Cash $ 14,950 Marketable securities 7,940 Accounts receivable 13,040
Following is the balance sheet of Solomon Company for Year 3: SOLOMON COMPANY Balance sheet Assets Cash $ 14,950 Marketable securities 7,940 Accounts receivable 13,040 Inventory 11,300 Property and equipment 165,500 Accumulated depreciation (12,800 ) Total assets $ 199,930 Liabilities and Stockholders Equity Accounts payable $ 8,840 Current notes payable 3,560 Mortgage payable 4,650 Bonds payable 21,600 Common stock 113,100 Retained earnings 48,180 Total liabilities and stockholders equity $ 199,930
The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $15,100.
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 per share
c. Quick (acid-test) ratio
d. Return on investment %
e. Return on equity %
f. Debt to equity ratio
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