Rinker Corporation's comparative balance sheet is presented below.

Rinker's 2017 income statement included net sales of $120,000, cost of goods sold of $70,000, and profit of $14,000.
Instructions
Calculate the following ratios for 2017.
(a) Current ratio
(b) Acid-test ratio
(c) Receivables turnover
(d) Collection period
(e) Inventory turnover
(f) Days sales in inventory
(g) Profit margin
(h) Asset turnover
(i) Return on assets
(j) Return on equity
(k) Debt to total assets

Transcribed Image Text:

RINKER CORPORATION Balance Sheet December 31 2017 2016 Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings Total $ 5,300 21,200 9,000 20,000 70,000 (15,000) 110,500 $ 3,700 23,400 7,000 26,000 70,000 (10,000) 120,100 Accounts payable Common shares Retained earnings Total 10,370 75,000 25,130 110,500 $ 31,100 69,000 20,000 $120,100