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Following is the balance sheet of Rooney Company for Year 3: ROONEY COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable 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 P. d. 2.05 d. Return on investment e. Return on equity f. Debt to equity ratio The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $15,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) 7 $ 15,350 8,020 13,040 10,650 174,500 (12,600) % % $208,960 $ 8,300 3,120 4,850 21,780 113,900 57,010 $208,960

Following is the balance sheet of Rooney Company for Year 3: ROONEY COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable 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 P. d. 2.05 d. Return on investment e. Return on equity f. Debt to equity ratio The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $15,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) 7 $ 15,350 8,020 13,040 10,650 174,500 (12,600) % % $208,960 $ 8,300 3,120 4,850 21,780 113,900 57,010 $208,960

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Following is the balance sheet of Rooney Company for Year 3: ROONEY COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable 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 AL e. a. 2.00 d. Return on investment e. Return on equity f. Debt to equity ratio 7 $ 15,350 8,020 The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $15,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) % % 13,040 10,650 174,500 (12,600) $208,960 $ 8,300 3,120 4,850 21,780 113,900 57,010 $208,960
Transcribed Image Text:Following is the balance sheet of Rooney Company for Year 3: ROONEY COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable 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 AL e. a. 2.00 d. Return on investment e. Return on equity f. Debt to equity ratio 7 $ 15,350 8,020 The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $15,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) % % 13,040 10,650 174,500 (12,600) $208,960 $ 8,300 3,120 4,850 21,780 113,900 57,010 $208,960
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