Please show work/explaination.

Following are the balance sheet of Faustin Company's for 2014 FAUSTIN COMPANYS Balance sheet Assets Cash 18,000 Marketable securities 12,000 Accounts receivable 25,000 Inventory 22,000 Property and equinment 160,000 Accumulated depreciation 37,000) Total assets $200,000 Liabilities and Stockholders' Equity Accounts payable 11,500 3,500 Current notes payable Mortgage payable 4,000 Bonds payable 21,500 Common stock 100.000 Retained earnings 59.500 $200,000 Total liabilities and stockholders' equity The average number of common stock shares outstanding during 2014 was 880 shares. Net income for the year was $20,000. Required Compute each of the following. (Round your answers to 2 decimal places.)