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Gibson Company Following is the balance sheet of Gibson Company for Year 3: GIBSON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property
Gibson Company
Following is the balance sheet of Gibson Company for Year 3: GIBSON 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 8,300 12,740 11,100 169,000 (12,900) $202,790 $ 8,600 3,600 4,400 21,240 113,500 51,450 $202,790 The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $14,300. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) per share 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 % %Step by Step Solution
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