The average number of common stock shares outstanding during Year 3 was 850 shares. Net income...

Transcribed Image Text:

The average number of common stock shares outstanding during Year 3 was 850 shares. Net income for the year was $15,500. STUART COMPANY Balance sheet Assets $ 15,400 8,340 12,740 10,950 167,500 (12,000) Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets $202,930 Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable $ 8,630 3,880 4,700 21,840 113,200 50,680 $202,930 Common stock Retained earnings Total liabilities and stockholders' equity Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) a Current ratio b. Eamings per share c. Quick (acid-test) ratio ld Return on investment per share The average number of common stock shares outstanding during Year 3 was 850 shares. Net income for the year was $15,500. STUART COMPANY Balance sheet Assets $ 15,400 8,340 12,740 10,950 167,500 (12,000) Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets $202,930 Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable $ 8,630 3,880 4,700 21,840 113,200 50,680 $202,930 Common stock Retained earnings Total liabilities and stockholders' equity Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) a Current ratio b. Eamings per share c. Quick (acid-test) ratio ld Return on investment per share

Answer rating: 100% (QA)

A Current Ratio Current Ratio Current Assets Current Liabilities Current Assets Cash Marketabl... View the full answer