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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 equipment
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 $ 14,850 8,380 13, 460 10,900 167,000 (12,600) $201,990 8,660 3,240 4,650 21,060 113,100 51,280 $ 201,990 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, 0.2 should be entered as 23.45.) a. Current ratio per share b. Earnings per share c. Quick (acid-test) ratio d. Return on investment e. Return on equity % %
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