Exercise 14-11

Wiemers Corporations comparative balance sheets are presented below.

WIEMERS CORPORATION

Balance Sheets

December 31

2016 2017

Cash $4,000 $3,500

Accounts receivable (net) $21,100 $23,200

Inventory $10,300 $7,500

Land $20,100 $26,400

Buildings $70,000 $70,000

Accumulated depreciationbuildings ($15,100) ($10,900)

Total ------------------------------------------------------------ $110,400 $119,700

Accounts payable $12,200 $31,400

Common stock $75,500 $68,700

Retained earnings $22,700 $19,600

Total ----------------------------------------------------- $110,400 $119,700

Wiemerss 2017 income statement included net sales of $116,000, cost of goods sold of $60,100, and net income of $16,000.

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 ? :1

(b) Acid-test ratio ? :1

(c) Accounts receivable turnover ? times

(d) Inventory turnover ? times

(e) Profit margin ? %

(f) Asset turnover ? times

(g) Return on assets ? %

(h) Return on common stockholders equity ? %

(i) Debt to assets ratio ? %