Current Attempt in Progress

CraneCompany has been operating for several years, and on December 31, 2020, presented the following balance sheet.

CRANECOMPANY

BALANCE SHEET

DECEMBER 31, 2020

Cash $36,700 Accounts payable $75,200

Receivables 67,600 Mortgage payable 126,700

Inventory 100,500 Common stock ($1 par) 143,800

Plant assets (net) 206,100 Retained earnings 65,200

$410,900 $410,900

The net income for 2020 was $26,200. Assume that total assets are the same in 2019 and 2020.

(a)Compute each of the following ratios.(Round answers to 2 decimal places, e.g. 1.59 or 45.87%.)

(a)Current ratio - enter the Current ratio rounded to 2 decimal places

(b)Acid-test ratio - enter the Acid-test ratio rounded to 2 decimal places

(c)Debt to assets ratio. % - enter the Debt to assets ratio in percentages rounded to 2 decimal places

(d)Return on assets %