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Following is uie Valance sheet OI GIDSON company of Tear 3. GIBSON 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 $ 14,950 7,820 12,800 11,250 174,500 (12,900) $208,420 $ 8,600 3,080 4,550 21,840 114,600 55,750 $208,420 The average number of common stock shares outstanding during Year 3 was 850 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.) Answer is not complete. a Current ratio b b $ . 4.00 17 41 per share 3.04 7:52 X 1% % Earnings per share Quick (acid-test) ratio Return on investment Return on equity Debt to equity ratio d e f Exercise 9-6A (Algo) Working capital and current ratio LO 9-2 On June 30, Year 3, Fanning Company's total current assets were $499.500 and its total current liabilities were $271,500. On July 1. Year 3. Fanning issued a short-term note to a bank for $41.600 cash Required a. Compute Fanning's working capital before and after issuing the note b. Compute Fanning's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction B 25 Working capital Current ratio b

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