Following is the balance sheet of Duluth Company for Year 3. Assets Cash Marketable securities Accounts receivable. DULUTH COMPANY Balance sheet Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment e. Return on equity f. Debt to equity ratio $ $36,000 24,000 50,000 44,000 320,000 (74,000) The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $40,000. Required Compute each of the following: (Round your answers to 2 decimal places.) 5.13 45.45 per share 3.67 10.00 % 12.54% % $400,000 $ 23,000 7,000 8,000 43,000 200,000 119,000 $400,000
Following is the balance sheet of Duluth Company for Year 3. Assets Cash Marketable securities Accounts receivable. DULUTH COMPANY Balance sheet Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment e. Return on equity f. Debt to equity ratio $ $36,000 24,000 50,000 44,000 320,000 (74,000) The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $40,000. Required Compute each of the following: (Round your answers to 2 decimal places.) 5.13 45.45 per share 3.67 10.00 % 12.54% % $400,000 $ 23,000 7,000 8,000 43,000 200,000 119,000 $400,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Following is the balance sheet of Duluth Company for Year 3.
Assets
Cash
Marketable securities
Accounts receivable
Inventory
Property and equipment
Accumulated depreciation
Total assets
DULUTH COMPANY
Balance sheet
Liabilities and Stockholders' Equity
Accounts payable
Current notes payable
Mortgage payable
Bonds payable
Common stock
Retained earnings
Total liabilities and stockholders' equity
a. Current ratio
b. Earnings per share
c. Quick (acid-test) ratio
d. Return on investment
e. Return on equity
f. Debt to equity ratio
$
$ 36,000
24,000
50,000
44,000
320,000
(74,000)
The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $40,000.
Required
Compute each of the following: (Round your answers to 2 decimal places.)
5.13
45.45 per share
3.67
10.00 %
12.54 %
%
$400,000
$ 23,000
7,000
8,000
43,000
200,000
119,000
$400,000
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