Following is the balance sheet of Gibson Company for Year 3: GIBSON COMPANY Balance sheet Assets Cash
Fantastic news! We've Found the answer you've been seeking!
Question:
Following is the balance sheet of Gibson Company for Year 3:
GIBSON COMPANY Balance sheet | |||
Assets | |||
Cash | $ | 15,250 | |
Marketable securities | 7,700 | ||
Accounts receivable | 13,460 | ||
Inventory | 11,150 | ||
Property and equipment | 166,500 | ||
Accumulated depreciation | (12,100 | ) | |
Total assets | $ | 201,960 | |
Liabilities and Stockholders’ Equity | |||
Accounts payable | $ | 8,180 | |
Current notes payable | 3,560 | ||
Mortgage payable | 4,800 | ||
Bonds payable | 21,960 | ||
Common stock | 113,700 | ||
Retained earnings | 49,760 | ||
Total liabilities and stockholders’ equity | $ | 201,960 | |
The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $14,700.
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. Earnings per share
c. Quick (acid-test) ratio
d. Return on investment%
e. Return on equity%
f. Debt to equity ratio
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date: