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Total assets (40% of which are current) Current liabilities. Bonds payable, 128 Capital stock, $8 par value Retained earnings Total liabilities & stockholders' equity Required: Dividends of $16,000 were declared and paid in year 2. a. Current ratio b. Debt ratio c. Earnings per share. a. Compute the current ratio for year 2 and year 1. Note: Round your answers to 1 decimal place. b. Compute the debt ratio for year 2 and year 1. Note: Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%. c. Compute the earnings per share for year 2. Note: Round your answer to 2 decimal places. Year 2 to 1 % Year 1 Year 2 $ 485,000 $ 80,000 100,000 100,000 205,000 $ 485,000 to 1 % Year 1 $ 309,000 $ 100,000 50,000 100,000 59,000 $ 309,000

Total assets (40% of which are current) Current liabilities. Bonds payable, 128 Capital stock, $8 par value Retained earnings Total liabilities & stockholders' equity Required: Dividends of $16,000 were declared and paid in year 2. a. Current ratio b. Debt ratio c. Earnings per share. a. Compute the current ratio for year 2 and year 1. Note: Round your answers to 1 decimal place. b. Compute the debt ratio for year 2 and year 1. Note: Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%. c. Compute the earnings per share for year 2. Note: Round your answer to 2 decimal places. Year 2 to 1 % Year 1 Year 2 $ 485,000 $ 80,000 100,000 100,000 205,000 $ 485,000 to 1 % Year 1 $ 309,000 $ 100,000 50,000 100,000 59,000 $ 309,000

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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Total assets (40% of which are current) Current liabilities Bonds payable, 12% Capital stock, $8 par value Retained earnings Total liabilities & stockholders' equity Required: Dividends of $16,000 were declared and paid in year 2. a. Current ratio b. Debt ratio c. Earnings per share a. Compute the current ratio for year 2 and year 1. Note: Round your answers to 1 decimal place. b. Compute the debt ratio for year 2 and year 1. Note: Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%. c. Compute the earnings per share for year 2. Note: Round your answer to 2 decimal places. Year 2 to 1 Year 1 Year 2 $ 485,000 $ 80,000 100,000 100,000 205,000 $ 485,000 to 1 % Year 1 $ 309,000 $ 100,000 50,000 100,000 59,000 $ 309,000
Transcribed Image Text:Total assets (40% of which are current) Current liabilities Bonds payable, 12% Capital stock, $8 par value Retained earnings Total liabilities & stockholders' equity Required: Dividends of $16,000 were declared and paid in year 2. a. Current ratio b. Debt ratio c. Earnings per share a. Compute the current ratio for year 2 and year 1. Note: Round your answers to 1 decimal place. b. Compute the debt ratio for year 2 and year 1. Note: Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%. c. Compute the earnings per share for year 2. Note: Round your answer to 2 decimal places. Year 2 to 1 Year 1 Year 2 $ 485,000 $ 80,000 100,000 100,000 205,000 $ 485,000 to 1 % Year 1 $ 309,000 $ 100,000 50,000 100,000 59,000 $ 309,000
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