Current Ratio, Debt Ratio, and Earnings per Share
Selected items from successive annual reports of Middlebrook, Inc., appear as follows:
| 2015 | 2014 |
Total assets (40% of which are current) | $400,000 | $325,000 |
Current liabilities | $ 80,000 | $100,000 |
Bonds payable, 12% | 100,000 | 50,000 |
Capital stock, $5 par value | 100,000 | 100,000 |
Retained earnings | 120,000 | 75,000 |
Total liabilities&stockholders’ equity | $400,000 | $325,000 |
Dividends of $16,000 were declared and paid in 2015. Compute the following:
a. Current ratio for 2015 and 2014.
b. Debt ratio for 2015 and 2014.
c. Earnings per share for 2015.
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