the second picture is just a continuation of the first part ...

90.2K

Verified Solution

Question

Accounting

the second picture is just a continuation of the first part image
image
Wiemers Corporation's comparative balance sheets are presented below. WIEMERS CORPORATION Balance Sheets December 31 2017 2016 Cash $ 4,100 $ 4,100 Accounts receivable (net) 20,900 23,200 Inventory 10,400 7,500 Land 19,900 26,000 Buildings 69,500 69,500 Accumulated depreciation--buildings (14,700) (10,400) Total $110,100 $119,900 Accounts payable $ 12,300 $ 31,600 Common stock 74,500 70,500 Retained earnings 23,300 17,800 Total $110,100 $119,900 Wiemers's 2017 income statement included net sales of $109,000, cost of goods sold of $59,500, and net income of $14,300. Compute the following ratios for 2017. (Round answers to 2 decimal places, e.. Current ratio Acid-test ratio Accounts receivable turnover Inventory turnover Le wepreciation-buildings Total Accounts payable Common stock Retained earnings Total (14,700) $110,100 $ 12,300 74,500 23,300 $110 100 (10.400) $119,900 $ 31,600 70,500 17,800 $ 119,900 Wiemers's 2017 income statement included net sales of $109,000, cost of goods sold of $59,500, and net income of $14,300. Compute the following ratios for 2017. (Round answers to 2 decimal places, e.g. 1.65, or 1.65% Current ratio Acid-test ratio Accounts receivable turnover times Inventory turnover times Profit margin times Asset turnover Return on assets Return on common stockholders' equity Debt to assets ratio

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students