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Practice Exercise 2 Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 2016 Cash Accounts receivable (net) 3,200 23,400
Practice Exercise 2 Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 2016 Cash Accounts receivable (net) 3,200 23,400 6,900 26,300 70,500 (14,500) (10,500) $111,500 $119,800 3,400 21,400 10,500 20,200 70,500 Land Total Accounts payable Common stock Retained earnings 12,700 30,600 70,500 18,700 $111,500 $119,800 75,100 23,700 Total Wiemers's 2017 income statement included net sales of $117,000, cost of goods sold of $61,000, and net income of $14,200. Compute the following ratios for 2017. (Round answers to 2 decimal places, e.g. 1.64, or 1.64% Current ratio Acid-test ratio Accounts receivable turnover Inventory turnover Profit margin times Asset turnover times Return on assets Return on common stockholders' equity Debt to assets ratio
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