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Wiemers Corporations comparative balance sheets are presented below. Wiemerss 2017 income statement included net sales of $117,000, cost of goods sold of $60,400, and net
Wiemers Corporations comparative balance sheets are presented below. 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.
Wiemers Corporation's comparative balance sheets are presented below WIEMERS CORPORATION Balance Sheets 2017 2016 Cash Accounts receivable (net) Inventory Land Buildings Accumulated depreciation-buildings $4,800 21,300 10,300 20,000 69,600 (15,100 3,900 23,100 7,500 25,700 69,600 (10,000) Total Accounts payable Common stock Retained earnings $110,900 $119,800 $31,200 69,600 19,000 $110,900 $119,800 $11,800 75,000 24,100 Total Wiemers's 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, (Round Debt to assets ratio to 1 decimal place, e.g. 1.6, or 1.6% and all other answers to 2 decimal places, e.g. 1.65, or 1.65% .) (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 5.27 times 6.78 times 12.56 % timesStep by Step Solution
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