Question: Wiemers Corporations comparative balance sheets are presented below. Wiemerss 2014 income statement included net sales of $100,000, cost of goods sold of $60,000, and net

Wiemers Corporation€™s comparative balance sheets are presented below.

Wiemers€™s 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.

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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