Question: Following are the year end financial statements of Steve s Music Store

Following are the year-end financial statements of Steve’s Music Store.


The current market price of common stock is $ 29.50 per share. At the beginning of the year, stockholders’ equity was $ 192,000.

Required
Determine the following, showing the figures you used in your calculations. (Round to two decimal places.)
1. Working capital
2. Current ratio
3. Quick ratio
4. Merchandise inventory turnover
5. Number of days merchandise inventory kept in stock
6. Rate of return on common stockholders’ equity
7. Earnings per share of common stock
8. Price- earningsratio
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  • CreatedOctober 21, 2014
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