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Problem 3 - 2 0 ( Algo ) Calculate profitability and liquidity measures LO 3 - 3 , 3 - 4 , 3 - 6

Problem 3-20(Algo) Calculate profitability and liquidity measures LO 3-3,3-4,3-6
Presented here are the comparative balance sheets of Hames Incorporated at December 31,2023 and 2022. Sales for the year endes December 31,2023, totaled $590,000.
Required:
a. Calculate ROI for 2023.
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
b. Calculate ROE for 2023.
Note: Round your answer to 1 decimal place.
c. Calculate working capital at December 31,2023.
d. Calculate the current ratio at December 31,2023.
Note: Round your answer to 2 decimal places.
e. Calculate the acid-test ratio at December 31,2023.
Note: Round your answer to 2 decimal places.
f. Assume that on December 31,2023, the treasurer of Hames decided to pay $15,000 of accounts payable. What impact, if any, this payment will have on the answers you calculated for parts a-d (increase, decrease, or no effect).
g. Assume that instead of paying $15,000 of accounts payable on December 31,2023. Hames collected $15,000 of accounts receivable. What impact, if any, this receipt will have on the answers you calculated for parts a-d (increase, decrease, or no effect).
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