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Question 8 of 14 - 71 Splish Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. Cash
Question 8 of 14 - 71 Splish Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. Cash Receivables SPLISH COMPANY BALANCE SHEET DECEMBER 31, 2020 $43,100 Accounts payable 75,500 Mortgage payable 104,300 Common stock ($1 par) 237,100 Retained earnings $460,000 Inventory Plant assets (net) $86,800 152,900 151,200 69,100 $460,000 The net income for 2020 was $24,500. Assume that total assets are the same in 2019 and 2020. (a) Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio % (d) Return on assets %
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