ASSIGNMENT RESOURCES Exercise 18-7 Frizell Company has the following comparative balance sheet data HW CH 18 Exercise 18-3 Exercise 18- Exercise 1H FRIZELL COMPANY Balance Sheets December 31 2017 Review Score Review Results by Study Objective 15,000 $ 30,000 Accounts receivable (net) 70,000 60,000 0,000 50,000 00,000 180,000 345,000 $320,000 50,000 $60,000 Mortgage payable (6%) 100,000 100,000 Common stock, $10 par 140,000 120,000 5,000 40,000 $345,000 320,000 Cash Plant assets (net) Accounts payable Retained earnings Additional information for 2017 1. Net income was $25,000 2 Sales on account were $410,000. Sales returns and allowances were $20,000 Cost of goods sold was $98,00 Compute the following ratios at December 31, 2017. (Round answers to 1 decimal place, e.g. 1.6.) LemstAernem meeco-Poo :2000. 2018Jom mrakSons,In. All Rights Renerved. A Division of John wer Sons, Inc. 3 5 6 s lock ntrol option command