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Exercise 18-11 Wiemers Corporation’s comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31...

Exercise 18-11

Wiemers Corporation’s comparative balance sheets are presented below.

WIEMERS CORPORATION
Balance Sheets
December 31

2017

2016
Cash $ 3,500 $ 4,100
Accounts receivable (net) 21,500 23,300
Inventory 10,400 7,400
Land 19,500 25,800
Buildings 70,200 70,200
Accumulated depreciation—buildings (15,400 ) (11,000 )
    Total $109,700 $119,800
Accounts payable $ 12,700 $ 30,700
Common stock 75,400 70,300
Retained earnings 21,600 18,800
    Total $109,700 $119,800


Wiemers’s 2017 income statement included net sales of $109,000, cost of goods sold of $59,200, and net income of $15,500.

Compute the following ratios for 2017. (Round answers to 2 decimal places, e.g. 1.65, or 1.65% .)

Current ratio :1
Acid-test ratio :1
Accounts receivable turnover times
Inventory turnover times
Profit margin %
Asset turnover times
Return on assets %
Return on common stockholders’ equity %
Debt to assets ratio %

Solutions

Expert Solution

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ekkarill92 answered 2 years ago
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