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Metlock Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. Cash METLOCK COMPANY BALANCE SHEET DECEMBER 31,
Metlock Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. Cash METLOCK COMPANY BALANCE SHEET DECEMBER 31, 2020 $36,400 Accounts payable 69,200 Mortgage payable 99,300 Common stock ($1 par) 237,700 Retained earnings $442,600 Receivables $78,100 141,500 154,400 Inventory Plant assets (net) 68,600 $442,600 The net income for 2020 was $26,700. Assume that total assets are the same in 2019 and 2020. (a) Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio % (d) Return on assets %
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