ROCKER COMPANY Comparative Balance Sheet Cash Accounts receivable Inventory Prepaid expenses Long-term investments Equipment Accumulated depreciation-equipment Asset S 34,000 18,000 25,000 6,000 $11,000 13,000 17.000 9,000 17,000 33,000 (15,000) 60,000 Total assets $85.000 Liabilties and Stockholders' Equity Accounts payable Bonds payable Common stock Retained earnings S 17,000 36,000 40,000 S 7,000 45,000 23,000 10,000 $85.000 Total liabilities and stockholders' equity $123,000 1. Net income for the year ending December 31, 2017 was $35.000 2. Cash dividends of $15,000 were declared and paid during the year 3. Long-term investments that had a cost of $17,000 were sold for $14,000 Sales for 2017 were $120,000 4. Instructions method Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect Selected financial statement data for Mure Company are presented below Cash Short-term investments Receivables (net) Inventories Total current liabilities S 40,000 20,000 100,000 80,000 100,000 530,000 18,000 90,000 60,000 90,000 During 2017, net sales were $950,000, and cost of goods sold was $770,000 Instructions Compute the following ratios at December 31, 2017 (a) Current (b) Acid-test (c) Accounts receivable turnover