Parker Corporations comparative balance sheets are presented below

E18-11B Parker Corporation's comparative balance sheets are presented below. Parker's 2017 income statement included net sales of $100,000, cost of goods sold of $60,000, and net income of $12,000. Instructions Compute the following ratios for 2017. (a) Current ratio. (b) Acid-test ratio. (c) Accounts receivable turnover. (d) Inventory turnover. (e) Profit margin. (f) Asset turnover. (g) Return on assets. (h) Return on common stockholders' equity. (i) Debt to assets ratio. X. On January 1, Finney Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 55,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of \$1 per share to stockholders of record on June 30 . July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. Instructions: (a) Prepare the entries, to record these transactions. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31