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Exercise - Wiemers Corporation's comparative balance sheets are presented below.
WIEMERS CORPORATION Balance Sheets December 31
2017
2016
Cash
$ 4,300
$ 3,700
Accounts receivable (net)
21,000
23,600
Inventory
10,100
7,300
Land
20,300
26,500
Buildings
70,100
Accumulated depreciation-buildings
(14,500)
(10,100)
Total
$111,300
$121,100
Accounts payable
$ 12,200
$ 31,500
Common stock
74,200
68,400
Retained earnings
24,900
21,200
Wiemers's 2017 income statement included net sales of $105,000, cost of goods sold of $59,300, and net income of $14,000.
Compute the following ratios for 2017.
(a) Current ratio
(b) Acid-test ratio
(c) Accounts receivable turnover
(d) Inventory turnover
(e) Profit margin
(f) Asset turnover
(g) Return on assets
(h) Return on common stockholders' equity
(i) Debt to assets ratio
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