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Following is the balance sheet of Vernon Company for 2018: VERNON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated
Following is the balance sheet of Vernon Company for 2018: VERNON 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 $ 15,250 8,340 12,620 11,150 167,500 (12,500) $ 202,360 $ 8,630 3,680 4,650 21,000 113,200 51,200 $ 202,360 The average number of common stock shares outstanding during 2018 was 850 shares. Net income for the year was $14,500. Required Compute each of the following: (Round your answers to 2 decimal places.) 3.85 per share 2.94 a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment e. Return on equity f. Debt to equity ratio
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