Problem

Current Ratio, Debt Ratio, and  Earnings per ShareSelected items from successive annual re...

Current Ratio, Debt Ratio, and  Earnings per Share

Selected items from successive annual reports of Carey, Inc.. appear as follows:

 

2011

2010

Total assets (40% of which arc 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 2011.

  Compute the following:

a.  Current ratio for 2011 and 2010.

b.  Debt ratio for 2011 and 2010.

c.   Earnings per share for 2011.

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