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Following is the balance sheet of Fanning Company for Year 3: FANNING COMPANY Balance sheet...

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Accounting

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Following is the balance sheet of Fanning Company for Year 3: FANNING COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,100 8,380 13,160 10,700 170,000 (12,700) $204,640 $ 8,240 3,520 4,800 21,540 113,400 53,140 $204,640 The average number of common stock shares outstanding during Year 3 was 860 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.) Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) Answer is complete but not entirely correct. a. Current ratio b. Earnings per share $ 1.00 X 17.79 per share 0.99 X c. d. 0.07 X % Quick (acid-test) ratio Return on investment Return on equity Debt to equity ratio e 0.09 X % f. 0.23

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