179. Josephine's Bakery had the following assets and liabilities at the beginning and end of the current year:
|
Assets
|
Liabilities
|
Beginning of the year
|
$114,000
|
$68,000
|
End of the year
|
135,000
|
73,000
|
If the owners invested an additional $12,000 in the business during the year, but no dividends were paid, what was the amount of net income earned by Josephine's Bakery during the current year?
180. Josephine's Bakery had the following assets and liabilities at the beginning and end of the current year:
|
Assets
|
Liabilities
|
Beginning of the year
|
$114,000
|
$68,000
|
End of the year
|
135,000
|
73,000
|
If the owners made no investments and dividends of $5,000 were paid during the year, what was the amount of net income earned by Josephine's Bakery during the current year?
181. Josephine's Bakery had the following assets and liabilities at the beginning and end of the current year:
|
Assets
|
Liabilities
|
Beginning of the year
|
$114,000
|
$68,000
|
End of the year
|
135,000
|
73,000
|
If the owners invested an additional $12,000 in the business and dividends of $5,000 were paid during the year, what was the amount of net income earned by Josephine's Bakery during the current year?
182. A company had total assets of $350,000; total liabilities of $101,500; and total equity of $248,500. Calculate its debt ratio.
183. Montgomery Marketing Co. had assets of $475,000; liabilities of $275,500; and equity of $199,500. Calculate its debt ratio.