RONDO CORPORATION Balance Sheets December 31 2017 2016 Cash $ 5,300 $ 3,700 Accounts receivable 21,200 23,400 Inventory 9,000 7,000 Land 20,000 26,000 Buildings 70,000 70,000 Accumulated depreciation—buildings -15,000 -10,000 Total $110,500 $120,100 Accounts payable $ 10,370 $ 31,100 Common stock 75,000 69,000 Retained earnings 25,130 20,000 Total $110,500 $120,100 Rondo’s 2017 income statement included net sales of $120,000, cost of goods sold of $70,000, and net income of $14,000. Compute the below mentioned financial ratios for 2017.
