Selected items from successive annual reports of Middlebrook, Inc., appear as follows. Dividends of $16,000 were declared

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Selected items from successive annual reports of Middlebrook, Inc., appear as follows.

Dividends of $16,000 were declared and paid in year 2.
Compute the following:
a. Current ratio for year 2 and year 1.
b. Debt ratio for year 2 and year 1.
c. Earnings per share for year 2.

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Financial and Managerial Accounting the basis for business decisions

ISBN: 978-1259692406

18th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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Question Posted: May 10, 2017 11:24 AM

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Selected items from successive annual reports of Middlebrook, Inc., appear as follows. Dividends of $16,000 were declared

Question:

Year 2 $400,000 $ 80,000 Year 1 $325,000 $100,000 Total assets (40% of which are current) 00,000 50,000 Bonds payable, 12% . Capital stock, $5 par value Retained earnings 120,000 75,000

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a Current ratio 20 to 1 160000 80000 13 t...View the full answer

Financial and Managerial Accounting the basis for business decisions

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