Any assistance would be great. See below: Zeppelin Corporation's comparative
Any assistance would be great. See below: Zeppelin Corporation’s comparative balance sheets are presented below.
Zeppelin CORPORATION
Balance Sheets
December 31
2018
2017
Cash
$ 8,000
$ 9,000
Accounts receivable
35,000
38,000
Inventory
25,500
22,500
Land
15,000
15,000
Building
100,000
90,000
Accumulated depreciation
(27,000)
(25,000)
Total
$156,500
$149,500
Accounts payable
$ 50,000
$ 46,000
Common stock
63,000
60,000
Retained earnings
43,500
43,500
Total
$156,500
$149,500
Zeppelin’s 2018 income statement included net credit sales of $200,000, cost of goods sold of $120,000, and net income of $30,000.
Instructions:
Compute the following ratios for 2018. (a) Current ratio. (b) Acid-test ratio. (c) Receivables turnover. (d) Profit margin. (e)Return on assets. (Round ratios to 2 decimal places and percentages to 1 decimal place.)