Question: 1. In 2014, Pringle Company reported earnings per share of $10.50 when its stock was selling for $273. In 2015, its earnings increased by 14 percent. If all other relationships remain constant, what is the price of the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

2. A large retailer reported revenue of $1,673,000. The company's gross profit percentage was 45 percent. What amount of cost of goods sold did the company report?

3. Current assets totaled $49,000 and the current ratio was 1.2. Assume that the following transactions were completed:

(1) purchased merchandise for $6,000 on short-term credit and

(2) purchased a delivery truck for $20,000, paid $4,000 cash, and signed a two-year interest-bearing note for the balance.

Required: Compute the cumulative current ratio after each transaction. (Round your final answers to 2 decimal places.)