3/14/2021 Question 1 - Wk 1 - Practice: Ratio Analysis [due Sat] - Connect...

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3/14/2021 Question 1 - Wk 1 - Practice: Ratio Analysis [due Sat] - Connect https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252F… 1/1 eBook Hint Print References 1 20 points Wk 1 - Practice: Ratio Analysis […  Help Save & Exit SubmitSaved Check my work Following is the balance sheet of Vernon Company for Year 3:   VERNON COMPANY Balance sheet Assets Cash $ 15,300 Marketable securities 8,420 Accounts receivable 13,460 Inventory 11,300 Property and equipment 171,000 Accumulated depreciation (12,700) Total assets $206,780 Liabilities and Stockholders’ Equity Accounts payable $ 8,030 Current notes payable 3,040 Mortgage payable 4,600 Bonds payable 21,120 Common stock 113,500 Retained earnings 56,490 Total liabilities and stockholders’ equity $206,780   The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $15,700.   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 2.30 b. Earnings per share 5.00 per share c. Quick (acid-test) ratio 23.45. d. Return on investment 15.70 % e. Return on equity 171.00 % f. Debt to equity ratio Prev of 1 Next ← 1 ▦ → https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=1.&postSubmissionView=13252712542136807&wid=13252712699342914&role=student&pid=24954172_3768439259_1_128910371 https://createwp.customer.mheducation.com/wordpress-mu/success-academy-student/help-getting-to-know-connect/#.VYw1OU9VhBd
Answered 1 days AfterMar 14, 2021

Answer To: 3/14/2021 Question 1 - Wk 1 - Practice: Ratio Analysis [due Sat] - Connect...

Kiran answered on Mar 15 2021
138 Votes
Sheet1
    a. Current Ratio
         = Current Assets / Current Liabilities
        Current Assets
        Cash            15
300
        Marketable securities            8420
        Accounts Receivable            13460
        Inventory            11300
         Total Current Assets            48480
        Current Liabilities
        Accounts Payable            8030
        Current Notes payable            3040
         Total Current Liabilities            11070
        Current Ratio...
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