Following is the balance sheet of Walton Company for Year 3: WALTON COMPANY Balance sheet Assets...

 

Transcribed Image Text:

Following is the balance sheet of Walton Company for Year 3: WALTON COMPANY Balance sheet Assets Cash $ 14,650 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation 8,420 12,860 11,200 168,000 (12,500) $202,630 Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock $ 8,480 3,720 4,450 21,300 113,900 50,780 Retained earnings Total liabilities and stockholders' equity $202,630 The average number of common stock shares outstanding during Year 3 was 850 shares. Net income for the year was $15.300 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 bEarnings per share Quick (acid-test) ratio d Return on investment per share eReturn on equity Debt to equity ratio Following is the balance sheet of Walton Company for Year 3: WALTON COMPANY Balance sheet Assets Cash $ 14,650 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation 8,420 12,860 11,200 168,000 (12,500) $202,630 Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock $ 8,480 3,720 4,450 21,300 113,900 50,780 Retained earnings Total liabilities and stockholders' equity $202,630 The average number of common stock shares outstanding during Year 3 was 850 shares. Net income for the year was $15.300 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 bEarnings per share Quick (acid-test) ratio d Return on investment per share eReturn on equity Debt to equity ratio

Answer rating: 100% (QA)

Part a Computation of Current Ratio Current Ratio Total current a... View the full answer