Following is the balance sheet of Stuart Company for Year 3: ...
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Accounting
Following is the balance sheet of Stuart Company for Year 3:
| STUART COMPANY Balance sheet | |||
| Assets | |||
| Cash | $ | 15,000 | |
| Marketable securities | 8,100 | ||
| Accounts receivable | 13,400 | ||
| Inventory | 10,900 | ||
| Property and equipment | 167,500 | ||
| Accumulated depreciation | (12,200 | ) | |
| Total assets | $ | 202,700 | |
| Liabilities and Stockholders Equity | |||
| Accounts payable | $ | 8,930 | |
| Current notes payable | 3,040 | ||
| Mortgage payable | 4,250 | ||
| Bonds payable | 21,480 | ||
| Common stock | 113,000 | ||
| Retained earnings | 52,000 | ||
| Total liabilities and stockholders equity | $ | 202,700 | |
The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $14,800. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.)
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