Grande Corporation's comparative balance sheets are presented below.

Grande CORPORATION

Balance Sheets

December 31

2019

2018

Cash

$ 9,000

$ 8,000

Accounts receivable

38,000

35,000

Inventory

22,500

25,500

Land

15,000

15,000

Building

100,000

90,000

Accumulated depreciation

(26,000)

(25,000)

Total

$158,500

$148,500

Accounts payable

$ 46,000

$ 50,000

Common stock

62,000

60,000

Retained earnings

50,500

38,500

Total

$158,500

$148,500

Grande's 2019 income statement included net credit sales of $400,000, cost of goods sold of $110,000, and net income of $40,000.

Instructions:

Compute the following ratios for 2019. (a) Current ratio. (b) Acid-test ratio. (c) Receivables turnover. (d) Profit margin. (e)Return on assets.(Round ratios to 2 decimal places and percentages to 1 decimal place.)