Case Study

RONDO CORPORATION

Balance Sheets

December $31$

$20172016$

Cash $ $5,300$ $ $3,700$

Accounts receivable $21,20023,400$

Inventory $9,0007,000$

Land $20,00026,000$

Buildings $70,00070,000$

Accumulated depreciation$$buildings $-15,000-10,000$

Total $$110,500$ $$120,100$

Accounts payable $ $10,370$ $ $31,100$

Common stock $75,00069,000$

Retained earnings $25,13020,000$

Total $$110,500$ $$120,100$

Rondo$$s $2017$ income statement included net sales of $$120,000,$ cost of goods sold of $$70,000,$ and net income of $$14,000.$

Compute the below mentioned financial ratios for $2017.$