Wiemers Corporation\'s comparative balance sheets are presented below WIEMERS CO

Question

Wiemers Corporation's comparative balance sheets are presented below WIEMERS CORPORATION Balance Sheets December 31 2016 Cash Accounts receivable (net) Inventory Land Buildings Accumulated depreciation-buildings $ 4,000 23,600 7,000 26,000 69,500 10,900 110,300 $119,200 2017 $ 4,400 21,400 10,200 20,200 69,500 (15,400 Total Accounts payable Common stock Retained earnings s11,900 30,600 68,800 19,800 $110,300 $119,200 76,000 22.400 Total Wiemers's 2017 income statement included net sales of $104,000, cost of goods sold of $59,900, and net income of $14,100 Compute the following ratios for 2017, (Round answers to 2 decimal places, eg. 1.65, or 1.65% .) Current ratio Acid-test ratic Accounts receivable turnover Inventory turnover Profit margin Asset turnover Return on assets Return on common stockholders' equity Debt to assets ratio 3.02:1 2.1:1 4.62 times 6.96 times 13.561% 0.90 times 12.29% 15.081%

Explanation / Answer

Debt to assets ratio = total liabilities / total assets

                                      =11,900/110,300

                                     =10.79%

Debt to assets ratio = total liabilities / total assets

                                      =11,900/110,300

                                     =10.79%

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