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Total
$120,100 $110,500
Accounts payable
$ 31,100 $ 12,370
Common stock
75,000
69,000
Retained earnings
20,000
Total
$120,100
23,130
$110,500
Wiemers's 2017 income statement included net sales of
$100,000, cost of goods sold of $60,000, and net income of
$15,000.
Instructions
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.