Assignment #5 (Winter 2020) Saved Help Save & Exit Su Selected year-end financial statements of Al Jazeera Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $47,900; total assets, $229,400; common stock, $89,000; and retained earnings, $27,521.) points AL JAZEERA CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 454, 600 Cost of goods sold 297,950 Gross profit 156, 650 Operating expenses 99,200 Interest expense 4,400 Income before taxes 53,050 Income taxes 21,371 Net income $ 31,679 ( 8 00:31:15 18,500 4000 3,500 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) * Merchandise inventory AL JAZEERA CORPORATION Balance Sheet December 31, 2017 Liabilities and Equity $ 16,000 Accounts payable 9,000 Accrued wages payable 29,200 Income taxes payable 7,000 30,150 Long-term note payable, secured by mortgage on plant assets 2,950 Common stock 147, 300 Retained earnings $ 241,600 Total liabilities and equity 67,400 89,000 59 200 $ 241,600 Prepaid expenses Plant assets, net Total assets * These are short-term notes receivable arising from customer (trade) sales. Required: urant matin (2) acid-test ratio. (3) days' sales uncollected, (4) inventory turnover, (5) total asset turnover, and qully. (wo not round Intermediate calculations.) memory turnover, (5) total asset tur Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Req 5 Req 6 Compute the return on common stockholders' equity. || (11) Return on Common Stockholders' Equity Return On Common Stockholders' Equity Choose Numerator Choose Der minator Net income Preferred dividends Average common stockholders' equity Return on common stockholders' equity 2017: $ 31,679 -