2016 WIEMERS CORPORATION Balance Sheets December 31 2017 Cash $3,400 Accounts receivable (net) 20,700 Inventory 10,000 Land 19,500 Buildings 69,500 Accumulated depreciation-buildings (14,500) Total $108,600 Accounts payable $ 11,800 Common stock 74,000 Retained earnings 22,800 Total $108,600 $3,200 22,900 6,500 25,500 69,500 (10,000) $117,600 $ 30,600 68,000 19,000 $117,600 Wiemers's 2017 income statement included net sales of $100,000, cost of goods sold of $59,000, and net income of $14,000. Compute the following ratios for 2017. (Round answers to 2 decimal places, e.g. 1.65, or 1.65%.) Current ratio 2.9:1 Acid-test ratio 2.04:1 Accounts receivable turnover 4.6 times Inventory turnover 7.15 times Profit margin 14% x Asset turnover 1.26 times X Return on assets 17.55 %