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Following is the balance sheet of Thornton Company for Year 3: THORNTON COMPANY Balance sheet Assets Cash $ 14,750 Marketable securities 8,220 Accounts receivable 12,980
Following is the balance sheet of Thornton Company for Year 3:
THORNTON COMPANY Balance sheet | |||
Assets | |||
Cash | $ | 14,750 | |
Marketable securities | 8,220 | ||
Accounts receivable | 12,980 | ||
Inventory | 10,700 | ||
Property and equipment | 165,000 | ||
Accumulated depreciation | (12,800 | ) | |
Total assets | $ | 198,850 | |
Liabilities and Stockholders Equity | |||
Accounts payable | $ | 8,660 | |
Current notes payable | 3,880 | ||
Mortgage payable | 4,900 | ||
Bonds payable | 21,540 | ||
Common stock | 114,000 | ||
Retained earnings | 45,870 | ||
Total liabilities and stockholders equity | $ | 198,850 | |
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.)
Current ratio | ||
Earnings per share | per share | |
Quick (acid-test) ratio | ||
Return on investment | % | |
Return on equity | % | |
Debt to equity ratio |
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