Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with these last couple percentages. Thanks Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Dalaie31 2016 2017 $ 3,700 Cash

I need help with these last couple percentages. Thanks

image text in transcribed

Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Dalaie31 2016 2017 $ 3,700 Cash $3,700 23,500 Accounts receivable (net) Inventory 20,900 19.700 70.100 25 800 Buildings Accumulated depreciation-buildings Total 70,100 (10,300) $120,100 (14,800) $109,900 $12,700 30,800 68,000 Accounts payable Common stock Re Total 74,900 earnings $120,100 $109.900 Wiemers's 2017 income statement included net sales of $101,000, cost of goods sold of $59,400, and net income of $15,600. 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 2,75 (b) Acid-test ratio 1.94 :1 (c) Accounts receivable turnover 5 times (d) Inventory turnover 6.75 times (e) Profit margin (f) Asset turnover times (g) Return on assets % Return on common stockholders' equity (h) (i) Debt to assets ratio

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Energy Audit And Management Concept Methodologies Procedures And Case Studies

Authors: L. Ashok Kumar, Gokul Ganesan

1st Edition

978-1032067797

More Books

Students also viewed these Accounting questions

Question

Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X

Answered: 1 week ago