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Int int Following is the balance sheet of Vernon Company for Year 3: Assets Cash Marketable securities Accounts receivable Inventory Property and equipment VERNON
Int int Following is the balance sheet of Vernon Company for Year 3: Assets Cash Marketable securities Accounts receivable Inventory Property and equipment VERNON COMPANY Accumulated depreciation Total assets Balance sheet Liabilities and Stockholders' Equity Accounts payable Current notes payable Bonds payable Mortgage payable Common stock Retained earnings $ 15,450 8,020 12,560 11,000 171,000 (12,600) $205,430 $ 8,480 3,120 4,750 21,780 113,700 53,600 Total liabilities and stockholders' equity $205,430 The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $14,400. 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 4.05 16.18 per share 3.11 d. Return on investment % e. Return on equity 8.61% f. Debt to equity ratio
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