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

Financial statement data of Trinton Engineering include the following items:

Requirements
1. Compute Trinton’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 $115,000 on a long-term note payable.
b. Issued 20,000 shares of common stock, receiving cash of $365,000.
c. Paid short-term notes payable, $26,000.
d. Purchased merchandise of $45,000 on account, debiting Inventory.
e. Received cash on account,$19,000.

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$106,000 Cash Short-term investments....34,000 Accrued liabilities. 34,000 Accounts receivable, net..87,000 Long-term notes payable...165,000 Inventories. Prepaid expenses. Total assets.. 677,000 Number of common Short-term notes payabe S 26,000 Accounts payable, 145,000 Other long-term liabilities 32,000 98,000 8,000 Net income... shares outstanding47,000