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Following is the balance sheet of Stuart Company for Year 3: STUART COMPANY Balance sheet Assets Cash $ 14,750 Marketable securities 7,580 Accounts receivable 13,280
Following is the balance sheet of Stuart Company for Year 3:
STUART COMPANY Balance sheet | |||
Assets | |||
Cash | $ | 14,750 | |
Marketable securities | 7,580 | ||
Accounts receivable | 13,280 | ||
Inventory | 11,450 | ||
Property and equipment | 167,000 | ||
Accumulated depreciation | (12,800 | ) | |
Total assets | $ | 201,260 | |
Liabilities and Stockholders Equity | |||
Accounts payable | $ | 8,300 | |
Current notes payable | 3,720 | ||
Mortgage payable | 5,000 | ||
Bonds payable | 21,180 | ||
Common stock | 113,600 | ||
Retained earnings | 49,460 | ||
Total liabilities and stockholders equity | $ | 201,260 | |
The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $14,900. 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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