Practice questions

Following is the balance sheet of Benson Company for Year 3:
 
BENSON COMPANY
Balance sheetAssets   Cash$14,550 Marketable securities 8,380 Accounts receivable 12,800 Inventory 11,450 Property and equipment 173,500 Accumulated depreciation (12,600)Total assets$208,080 Liabilities and Stockholders’ Equity   Accounts payable$8,750 Current notes payable 4,000 Mortgage payable 4,200 Bonds payable 21,900 Common stock 114,600 Retained earnings 54,630 Total liabilities and stockholders’ equity$208,080 
The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $15,200.

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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