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Wiemers Corporations comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 2016 Cash $ 4,800 $ 3,900 Accounts receivable (net) 21,300
Wiemers Corporations comparative balance sheets are presented below.
WIEMERS CORPORATION Balance Sheets December 31 | ||||||
---|---|---|---|---|---|---|
2017 | 2016 | |||||
Cash | $ 4,800 | $ 3,900 | ||||
Accounts receivable (net) | 21,300 | 23,100 | ||||
Inventory | 10,300 | 7,500 | ||||
Land | 20,000 | 25,700 | ||||
Buildings | 69,600 | 69,600 | ||||
Accumulated depreciationbuildings | (15,100 | ) | (10,000 | ) | ||
Total | $110,900 | $119,800 | ||||
Accounts payable | $ 11,800 | $ 31,200 | ||||
Common stock | 75,000 | 69,600 | ||||
Retained earnings | 24,100 | 19,000 | ||||
Total | $110,900 | $119,800 |
Wiemerss 2017 income statement included net sales of $117,000, cost of goods sold of $60,400, and net income of $14,700. Compute the following ratios for 2017.
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