Compute the three ratios after evaluating the effect of each transaction that follows. Consider each...
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Accounting
Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. (Round all ratios to two decimal places)
a. borrowed $130.000 on a long-term note payable.
b. on january 1, issued 40,000 shares of common stock, receiving cash of $368,000.
c. paid short-term notes payable, $24,000.
d purchased merchandise of $43,000 on account, debiting inventory.
e. received cash on account, $21,000.
additional info: data table
cash....23,000 accounts receivable, net...88,000 inventories...148,000 prepaid expenses...6,000 total assets...676,000 short-term investments..34,000 short-term notes payable...49,000 accounts payable...108,000 accrued liabilities...36,000 long-term notes payable...164,000 other long-term liabilities...31,000 net income...95,000 number of common shares outstanding...44,000
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