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Flynn Plastics Company reports the following data in its May 30, 2020 financial statements: Gross sales $225,000 Current assets $ 40,000 Long-term assets $100,000 Current liabilities $16,000 Long-term liabilities $44,000 Owners' equity $80,000 Net income $7,200 Number of common shares 5,000 Compute the following ratios: current ratio debt-to-equity return on owners' equity earnings per share
Flynn Plastics Company reports the following data in its May 30, 2020 financial statements:
Gross sales $225,000
Current assets $ 40,000
Long-term assets $100,000
Current liabilities $16,000
Long-term liabilities $44,000
Owners' equity $80,000
Net income $7,200
Number of common shares 5,000
Compute the following ratios:
- current ratio
- debt-to-equity
- return on owners' equity
- earnings per share
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