Exercise - Wiemers Corporation's comparative balance sheets are presented below.
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WIEMERS CORPORATION Balance Sheets December 31
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2017
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2016
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Cash
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$ 4,300
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$ 3,700
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Accounts receivable (net)
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21,000
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23,600
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Inventory
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10,100
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7,300
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Land
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20,300
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26,500
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Buildings
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70,100
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70,100
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Accumulated depreciation-buildings
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(14,500)
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(10,100)
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Total
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$111,300
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$121,100
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Accounts payable
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$ 12,200
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$ 31,500
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Common stock
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74,200
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68,400
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Retained earnings
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24,900
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21,200
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Total
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$111,300
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$121,100
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Wiemers's 2017 income statement included net sales of $105,000, cost of goods sold of $59,300, and net income of $14,000.
Compute the following ratios for 2017.
(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