Question

Following is the balance sheet of Gibson Company for 2018: GIBSON COMPANY Balance sheet Assets Cash...

Following is the balance sheet of Gibson Company for 2018:

GIBSON COMPANY
Balance sheet
Assets
Cash $ 14,550
Marketable securities 7,860
Accounts receivable 12,860
Inventory 10,900
Property and equipment 168,000
Accumulated depreciation (12,900 )
Total assets $ 201,270
Liabilities and Stockholders’ Equity
Accounts payable $ 8,090
Current notes payable 3,640
Mortgage payable 4,450
Bonds payable 22,020
Common stock 113,200
Retained earnings 49,870
Total liabilities and stockholders’ equity $ 201,270

The average number of common stock shares outstanding during 2018 was 890 shares. Net income for the year was $15,700.

Required

Compute each of the following: (Round your answers to 2 decimal places.)

A. Current Ratio

B. earnings per share

C. Quick (acid-test) ratio

D. return on investment (%)

E. return om equity (%)

F. Debt to equity ratio (%)

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