Question
the following data was taken from the income statement and balance sheet at the end of the current year of Kaczynski corp The net income
the following data was taken from the income statement and balance sheet at the end of the current year of Kaczynski corp The net income was $900,000 Building. $1,000,000 Acc dep building 125,000 cash. 245,000 Marketable securities. 185,000 Accounts receivables. 124,000 Allowance for uncollectable accts. 4,000 Merchandise inventory. 105,000 supplies. 2,000 prepaid insurance. 3,000 accounts payable. 100,000 accrued liabilities. 20,000 mortgage payable. 18,000 Common stock, 300,000 $3 par value paid in capital in excess of par common. 75,000 retained earnings. 225,000 Required Determine the following 1.Current ratio 2.Quick ratio 3 . Earnings per share
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started