Cat Fancy, Inc., has provided the following information from its most current financial statements.
Total revenue........................................................................... $150,000
Total expenses ............................................................................ 96,000
Total current assets ........................................................................38,400
Total current liabilities .....................................................................9,600
Total stockholders' equity, previous year ............................................. 88,800
Total stockholders' equity, current year .............................................. 91,200
a. Compute the company's net income percentage in the current year.
b. Compute the company's return on equity in the current year.
c. Compute the company's current ratio at December 31, current year.