Financial statement data of Greatland Engineering include the following items: Requirements 1. Compute Greatlands current ratio, debt

Financial statement data of Greatland Engineering include the following items:

Requirements
1. Compute Greatland’s current ratio, debt ratio, and earnings per share. (Round all ratios to two decimal places.)
2. Compute the three ratios after evaluating the effect of each transaction that follows.
Consider each transaction separately.
a. Borrowed $135,000 on a long-term note payable.
b. Issued 40,000 shares of common stock, receiving cash of $360,000.
c. Paid short-term notes payable, $28,000.
d. Purchased merchandise of $44,000 on account, debiting Inventory.
e. Received cash on account,$16,000.

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25,000 Accounts payable. Cash Short-term investments 38,000 Accrued liabilities37,000 Accounts receivable, net82,000 Long-term notes payable160,000 Inventories 149,000 Other long-term liabilities..37,000 Prepaid ex Total assets 674,000 Number of common Short-term notes payabl.41,000 $101,000 6,000 Net income. 96,000 shares outstanding52,000