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Exercise 18-11 Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 Cash $ 3,700 Accounts receivable (net) 20,800 Inventory
Exercise 18-11 Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 Cash $ 3,700 Accounts receivable (net) 20,800 Inventory 10,300 Land 19,600 Buildings 69,600 Accumulated depreciation-buildings (14,500) Total $109,500 Accounts payable $ 12,100 Common stock 74,800 Retained earnings 22,600 Total $109,500 2016 $ 3,400 23,800 7,000 26,500 69,600 (10,000) $120,300 $ 31,000 70,000 19,300 $120,300 Wiemers's 2017 income statement included net sales of $104,000, cost of goods sold of $59,600, and net income of $16,000. Compute the following ratios for 2017. (Round answers to 2 decimal places, e.g. 1.65, or 1.65%.) Current ratio :1 Acid-test ratio :1 Accounts receivable turnover times Inventory turnover times Profit margin % Asset turnover times Return on assets % Return on common stockholders' equity Debt to assets ratio
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