The financial statements of Elcamino Company appear below:
Additional information:
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.

Question

The financial statements of Elcamino Company appear below:  
Additional information: 
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.

Quizplus · Accepted Answer

The Answer of The financial statements of Elcamino Company appear below:  
Additional information: 
a. Cash dividends of $50,000 were declared and paid on common stock in 2017.
b. Weighted-average number of shares of common stock outstanding during 2017 was 50,000 shares.
c. Market price of common stock on December 31, 2017, was $16 per share.
d. Net cash provided by operating activities for 2017 was $70,000.
Instructions
Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2017. Show all computations.

The Financial Statements of Elcamino Company Appear Below