1. Calculate Greatland's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. 2. Calculate the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. a. Borrowed $105,000 on a long-term note payable b. On January 1, Issued 40,000 shares of common stock, receiving cash of $360,000 C. Paid off short-term notes payable, $28,000 d. Purchased $43,000 of merchandise on account, debiting Inventory e. Received cash on account, $17,000 DO Part 4 of 9 HW Score: 85,43% 25,63 of 30 Point 1d of 5 Financial statement data of Greatland Engineering include the following ters: Click the icon to view the financial statement data) Roata le comments Requirement 1. Calculate Greetano's current ratio, debt ratio of Surt by determining the formula for each ratio, beginning with Current assets Current as Data table Totalles Total assets $ Not Income Preferred dividende Now compute Greatland's current ratio, debt ratio, and earnings Current ratio Debt ratio Earnings per Cash Short-term investments Accounts receivable.net Inventories Prepaid expenses Total assets Short-term notes payable 20,000 Accounts payable 36,000 Accrued liais 85.000 Long term notos payable 147.000 Other long formats 8.000 Net Income 677.000 Number of common 49,000 shares outstanding $107.000 32.000 163.000 34.000 99.000 48.000 Print Done Financial statement data of Greatland Engineering include the following items: Click the icon to view the financial statement data.) Read the requirements Requirement 1. Calculate Greatland's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. Start by determining the formula for each ratio, beginning with the current ratio, followed by the debt ratio, and then earnings per share. Current assets Current liabilities Current ratio Total liabilities Total assets Debt ratio Net income Preferred dividends ) + Common shares outstanding = Earnings per share Now compute Greatland's current ratio, debt ratio, and earnings per share. (Round all ratios to two decimal places.) Current ratio Debt ratio Earnings per share Requirement 2. Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately (Round all ratios to two decimal places.) Current ratio Debt ratio Earnings per share b. G. d. Data table $ Cash Short-term investments Accounts receivable, net 26,000 Accounts payable 36,000 Accrued liabilities 85,000 Long-term notes payable 147,000 Other long-term liabilities 6,000 Net income 677,000 Number of common 49,000 shares outstanding $ 107.000 32,000 163,000 34.000 99,000 Inventories Prepaid expenses Total assets Short-term notes payable 46,000 Print Done
