ACC 560 MART Great Stories /acc560mart.com ACC 560 MART Great Stories /acc560mart.com | Page 62

2017
2016
Cash
$ 30,000
$ 15,000
Accounts receivable (net)
60,000 70,000
Inventory
50,000 60,000
Plant assets (net)
180,000 200,000
$345,000
$320,000
Accounts payable
$ 60,000
$ 50,000
Mortgage payable (6%)
100,000
100,000
Common stock, $10 par
120,000
140,000
Retained earnings
40,000
55,000
$345,000
$320,000
Instructions
Compute the following ratios at December 31, 2017.