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Buffalo Compan's condensed financial statements provide the following information. BUFFALO COMPANY BALANCE SHEET Dec. 31, Dec. 31, 2017 $51,900 199,300 79,400 443,600 2016 $60,500 79,400
Buffalo Compan's condensed financial statements provide the following information. BUFFALO COMPANY BALANCE SHEET Dec. 31, Dec. 31, 2017 $51,900 199,300 79,400 443,600 2016 $60,500 79,400 40,400 359,900 7,100 777,200 547,300 857,900 $1,635,200 $1,405,200 158,500 403,800 842,900 Total liabilities and stockholders' equity $1,635,200 $1,405,200 Cash Accounts receivable (net) Short-term investments Inventory Prepaid expenses 3,000 Total current assets Property, plant, and equipment (net) 858,000 Total assets Current liabilities Bonds payable Comm 251,100 403,800 980,300 on stockholders' equity INCOME STATEMENT FOR THE YEAR ENDED 2017 $1,627,400 Sales Cost of goods sold Gross profit Selling and administrative expenses Interest expense Net income (795,300) 832,100 (442,300) (39,700) $350,100 Determine the following for 2017, (Round answers to 2 decimal places, eg. 1.59 or 45.87%.) (1) (2) (3) (4) (5) (6) Current ratio at December 31 Acid-test ratio at December 31 Accounts receivable turnover Inventory turnover Return on assets Profit margin on sales times times times times
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