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Following is the balance sheet of Thornton Company for Year 3: THORNTON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and
Following is the balance sheet of Thornton Company for Year 3: THORNTON 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 $ 14,550 8,260 13,160 10,900 172,000 (12,000) $206,870 $ 8,060 3,400 4,450 21,960 113,300 55,700 $206,870 The average number of common stock shares outstanding during Year 3 was 900 shares. Net income for the year was $14,500. 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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