SOLOMON COMPANY
Balance sheet
Assets
Cash$14,900
Marketable securities 8,500
Accounts receivable 12,800
Inventory 10,700
Property and equipment 175,000
Accumulated depreciation (12,800)
Total assets$209,100
Liabilities and Stockholders’ Equity
Accounts payable$8,360
Current notes payable 3,680
Mortgage payable 4,200
Bonds payable 21,660
Common stock 113,200
Retained earnings 58,000
Total liabilities and stockholders’ equity$209,100
The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $14,900.
Required
Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.)