Following is the balance sheet of Duluth Company for Year 3. DULUTH COMPANY Balance sheet Assets Cash
Question:
Following is the balance sheet of Duluth Company for Year 3.
DULUTH COMPANY Balance sheet Assets Cash $ 36,000 Marketable securities 24,000 Accounts receivable 50,000 Inventory 44,000 Property and equipment 320,000 Accumulated depreciation (74,000 ) Total assets $ 400,000 Liabilities and Stockholders’ Equity Accounts payable $ 23,000 Current notes payable 7,000 Mortgage payable 8,000 Bonds payable 43,000 Common stock 200,000 Retained earnings 119,000 Total liabilities and stockholders’ equity $ 400,000
The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $40,000.
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
Required
Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.)
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson