In: Accounting
Exercise 18-11
Wiemers Corporation’s comparative balance sheets are presented below.
WIEMERS CORPORATION |
||||||
2017 |
2016 |
|||||
Cash | $ 4,600 | $ 4,200 | ||||
Accounts receivable (net) | 20,700 | 23,800 | ||||
Inventory | 10,100 | 7,300 | ||||
Land | 20,000 | 26,000 | ||||
Buildings | 69,500 | 69,500 | ||||
Accumulated depreciation—buildings | (15,400 | ) | (11,000 | ) | ||
Total | $109,500 | $119,800 | ||||
Accounts payable | $ 12,500 | $ 31,300 | ||||
Common stock | 75,800 | 68,800 | ||||
Retained earnings | 21,200 | 19,700 | ||||
Total | $109,500 | $119,800 |
Wiemers’s 2017 income statement included net sales of $108,000,
cost of goods sold of $61,000, and net income of $14,100.
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 |
? |
% |