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Following is the balance sheet of Stuart Company for Year 3: Assets Cash STUART COMPANY Balance sheet 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 $ 14,500 7,940 12,980 11,300 168,500 (12,600) $ 202,620 $ 8,390 3,560 4,250 21,480 114,900 50,040 $ 202,620 The average number of common stock shares outstanding during Year 3 was 900 shares. Net income $14,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 23.45.) 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 per share % %

Following is the balance sheet of Stuart Company for Year 3: Assets Cash STUART COMPANY Balance sheet 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 $ 14,500 7,940 12,980 11,300 168,500 (12,600) $ 202,620 $ 8,390 3,560 4,250 21,480 114,900 50,040 $ 202,620 The average number of common stock shares outstanding during Year 3 was 900 shares. Net income $14,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 23.45.) 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 per share % %

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 Stuart Company for Year 3: STUART COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment $ 14,500 7,940 12,980 11,300 168,500 Accumulated depreciation (12,600) Total assets $ 202,620 Liabilities and Stockholders' Equity Accounts payable $ 8,390 Current notes payable 3,560 Mortgage payable 4,250 Bonds payable 21,480 Common stock Retained earnings Total liabilities and stockholders' equity 114,900 50,040 $ 202,620 The average number of common stock shares outstanding during Year 3 was 900 shares. Net income for the year was $14,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment per share % e. Return on equity % f. Debt to equity ratio
Transcribed Image Text:Following is the balance sheet of Stuart Company for Year 3: STUART COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment $ 14,500 7,940 12,980 11,300 168,500 Accumulated depreciation (12,600) Total assets $ 202,620 Liabilities and Stockholders' Equity Accounts payable $ 8,390 Current notes payable 3,560 Mortgage payable 4,250 Bonds payable 21,480 Common stock Retained earnings Total liabilities and stockholders' equity 114,900 50,040 $ 202,620 The average number of common stock shares outstanding during Year 3 was 900 shares. Net income for the year was $14,000. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment per share % e. Return on equity % f. Debt to equity ratio
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