Following is the balance sheet of Vernon Company for Year 3: VERNON COMPANY Balance sheet As

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Following is the balance sheet of Vernon Company for Year 3:

VERNON COMPANY                                                       Balance sheet

Assets

Cash                                                                $14,700

Marketable securities                                       8,420

Accounts receivable                                        12,740

Inventory                                                            11,050

Property and equipment                               167,500

Accumulated depreciation                           (12,700)

Total assets

$201,710

Liabilities and Stockholders’ Equity

Accounts payable                                             $8,780

Current notes payable                                        3,240

Mortgage payable                                               4,650

Bonds payable                                                   22,020

Common stock                                                113,700

Retained earnings                                             49,320

Total liabilities and stockholders’ equity

$201,710

The average number of common stock shares outstanding during Year 3 was 860 shares. Net income for the year was $16,000. RequiredCompute 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            per-share

c.  Quick (acid test) ratio

d. Return on investment         %

e.  Return on equity                  %

f.   Debt to equity ratio

Following is the balance sheet of Vernon Company for Year 3: VERNON COMPANY Balance sheet As
Following is the balance sheet of Vernon Company for Year 3:  VERNON COMPANYBalance sheet Assets       Cash 14,700   Marketable securities   8,420   Accounts receivable   12,740   Inventory   11,050   Property and equipment   167,500   Accumulated depreciation   (12,700 Total assets 201,710   Liabilities and Stockholders’ Equity       Accounts payable 8,780   Current notes payable   3,240   Mortgage payable   4,650   Bonds payable   22,020   Common stock   113,700   Retained earnings   49,320   Total liabilities and stockholders’ equity 201,710    The average number of common stock shares outstanding during Year 3 was 860 shares. Net income for the year was $16,000. RequiredCompute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) Current ratio Earnings per share Per share Quick (acid test) ratio Return on investment Return on equity Debt to equity ratio  
Following is the balance sheet of Vernon Company for Year 3: VERNON COMPANY Balance sheet As
Following is the balance sheet of Vernon Company for Year 3:  VERNON COMPANYBalance sheet Assets       Cash 14,700   Marketable securities   8,420   Accounts receivable   12,740   Inventory   11,050   Property and equipment   167,500   Accumulated depreciation   (12,700 Total assets 201,710   Liabilities and Stockholders’ Equity       Accounts payable 8,780   Current notes payable   3,240   Mortgage payable   4,650   Bonds payable   22,020   Common stock   113,700   Retained earnings   49,320   Total liabilities and stockholders’ equity 201,710    The average number of common stock shares outstanding during Year 3 was 860 shares. Net income for the year was $16,000. RequiredCompute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) Current ratio Earnings per share Per share Quick (acid test) ratio Return on investment Return on equity Debt to equity ratio  

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