Exercise 13-18 Buffalo Company's condensed financial statements provide the following information. BUFFALO COMPANY BALANCE SHEET Dec. 31, 2017 Dec. 31, 2016 Cash Accounts receivable (net) Short-term investments Inventory Prepaid expenses Total current assets $ 59,400 80,400 40,000 360,800 7,000 $ 52,500 199,600 80,400 443,200 2,900 $ 778,600 850,000 $1,628,600 232,500 400,200 995,900 $1,628,600 Property, plant, and equipment (net) $ 547,600 860,000 $1,407,600 Total assets Current liabilities Bonds payable Common stockholders' equity Total liabilities and stockholders' equity 163,500 400,200 843,900 $1,407,600 INCOME STATEMENT FOR THE YEAR ENDED 2017 Sales Cost of goods sold Gross profit Selling and administrative expenses Interest expense $1,639,200 (803,800) 835,400 (442,300) (40,200) $ 352,900 Net income Determine the following for 2017. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) Determine the following for 2017. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (1) Current ratio at December 31 times (2) Acid-test ratio at December 31 times (3) Accounts receivable turnover times (4) Inventory turnover times (5) Return on assets % (6) Profit margin on sales %