Question
Following is the balance sheet of Solomon Company for Year 3: SOLOMON COMPANY Balance sheet Assets Cash $ 15,000 Marketable securities 8,100 Accounts receivable 13,460
Following is the balance sheet of Solomon Company for Year 3: SOLOMON COMPANY Balance sheet
Assets Cash $ 15,000
Marketable securities 8,100
Accounts receivable 13,460
Inventory 10,800
Property and equipment 171,500
Accumulated depreciation (12,100 )
Total assets $ 206,760
Liabilities and Stockholders Equity
Accounts payable $ 8,390
Current notes payable 3,600
Mortgage payable 4,600
Bonds payable 22,020
Common stock 113,200
Retained earnings 54,950
Total liabilities and stockholders equity $ 206,760
The average number of common stock shares outstanding during Year 3 was 860 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.)
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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