Compute the following ratios at December 31, 2017. a. Current ratio. b. Acid-test ratio. c. Accounts receivable turnover. d. Inventory turnover.
E14-11
Wiemers Corporation ' s comparative balance sheets are presented on the next page.
WIEMERS CORPORATION Balance Sheets December 31
2016
2017
Accounts receivable( net) 21,200 23,400
Inventory 10,000 7,000
Land 20,000 26,000
Buildings 70,000 70,000