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Whispering Company has been operating for several years, and on December 31, 2017, presented the...

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Accounting

Whispering Company has been operating for several years, and on December 31, 2017, presented the following balance sheet. WHISPERING COMPANY BALANCE SHEET DECEMBER 31, 2017 Cash $44,000 Accounts payable $82,100 Receivables 74,000 Mortgage payable 126,600 Inventory 92,800 Common stock ($1 par) 142,400 Plant assets (net) 224,100 Retained earnings 83,800 $434,900 $434,900 The net income for 2017 was $23,500. Assume that total assets are the same in 2016 and 2017.

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

(a) Current ratio

(b) Acid-test ratio

(c) Debt to assets ratio %

(d) Return on assets %

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