P18-3B Financial statement data on Braum's Food Co. include the following items: Cash $ 47,000 Accounts payable... $ 96.000 Short-term investments. Accounts receivable, net. 21.000 102.000 Accrued liabilities. 42.000 Long-term notes payable. 146.000 Inventories. 274.000 Other long-term liabilities 78.000 Prepaid expenses 15,000 Net income 119,000 Total assets 952.000 Number of common Short-term notes payable 72.000 shares outstanding. 26,000 Required 748 CHAPTER 18 1. Compute Braum's Food Co.'s current ratio, debt ratio, and earnings per share. 2. Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately

a. Borrowed $76,000 on a long-term note payable.

b. Sold short-term investments for $44.000 (cost. $66.000); assume no tax effect of the loss

c. Issued 14.000 shares of common stock, receiving cash of $168.000.

d. Received cash on account. $6,000.

e. Paid short-term notes payable. $51.000. Use the following format for your answer: Requirement 1: Current Ratio Debt Ratio Earnings Per Share Transaction Requirement 2: (letter) Current Ratio Debt Ratio Earnings Per Share