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Exercise 14-11 Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 Cash $ 4,600 Accounts receivable (net) 20,700 Inventory
Exercise 14-11 Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 Cash $ 4,600 Accounts receivable (net) 20,700 Inventory 10,100 Land 20,000 Buildings 69,500 Accumulated depreciation-buildings (15,400) Total $109,500 Accounts payable $ 12,500 Common stock 75,800 Retained earnings 21,200 Total $109,500 2016 $ 4,200 23,800 7,300 26,000 69,500 (11,000) $119,800 $ 31,300 68,800 19,700 $119,800 Wiemers's 2017 income statement included net sales of $108,000, cost of goods sold of $61,000, and net income of $14,100. Compute the following ratios for 2017. (Round Debt to assets ratio to 1 decimal place, e.g. 1.6, or 1.6% and all other answers to 2 decimal places, e.g. 1.65, or 1.65%.) (a) Current ratio (b) Acid-test ratio 1 (c) Accounts receivable turnover times (d) Inventory turnover times (e) Profit margin 0% (f) Asset turnover times (9) Return on assets (h) Return on common stockholders' equity (i) Debt to assets ratio
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