Compute the specified ratios using Duluth Company's balance sheet for 2018:
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 2018 was 880 shares. Net income for the year was $40,000.
Required
Compute each of the following and round computations to two decimal points:
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.