Wiemers Corporations comparative balance sheets are presented below. Wiemerss 2014 income statement included net sales of $100,000,
Question:
Wiemerss 2014 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 2014.
(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 assetsratio.
Transcribed Image Text:
WIEMERS CORPORATION Balance Sheets December 31 2014 2013 Cash Accounts receivable (net) Inventory Land Buildings Accumulated depreciation-bildings S 4,300 21,200 10,000 20,000 70,000 (15,000) $110,500 S 3,700 23,400 7,000 26,000 70,000 (10,000) Total $120,100 Accounts payable Common stock 12,370 75,000 23,130 31,100 69,000 20,000 Retained earnings Total 110,500 S120,100
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a 4300 21200 1000012370 2871 b 4300 2120012370 206...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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