Reynolds Corporation’s comparative balance sheets are presented below.

 
 
Reynolds CORPORATION
 
Balance Sheets
 
December 31
 
 
2018
 
2017
 
Cash
$ 10,000
 
$ 9,000
 
Accounts receivable
35,000
 
30,000
 
Inventory
25,500
 
20,000
 
Land
15,000
 
15,000
 
Building
90,000
 
90,000
 
Accumulated depreciation
(27,000)
 
(25,000)
 
    Total
$148,500
 
$139,000
 
 
 
 
 
 
Accounts payable
$ 50,000
 
$ 45,000
 
Common stock
65,000
 
60,000
 
Retained earnings
33,500
 
34,000
 
    Total
$148,500
 
$139,000
Reynolds’ 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.)