Wiemerss 2014 income statement included net sales of 100000


WIEMERS CORPORATION
Balance Sheets
December 31


2014
2013
Cash
$ 4,300

$ 3,700
Accounts receivable (net)
21,200

23,400
Inventory
10,000

7,000
Land
20,000

26,000
Buildings
70,000

70,000
Accumulated depreciation-buildings
(15,000 )
(10,000 )
    Total
$110,500

$120,100
Accounts payable
$ 12,370

$ 31,100
Common stock
75,000

69,000
Retained earnings
23,130

20,000
    Total
$110,500

$120,100


Wiemers's 2014 income statement included net sales of $100,000, cost of goods sold of $60,000, and net income of $15,000.

Compute the following ratios for 2014. (Round answers to 2 decimal places, e.g. 1.64, or 1.64% .)

Current ratio
:1
Acid-test ratio
:1
Accounts receivable turnover
times
Inventory turnover
times
Profit margin
%
Asset turnover
times
Return on assets
%
Return on common stockholders' equity
%
Debt to assets ratio
%

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Accounting Basics: Wiemerss 2014 income statement included net sales of 100000
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