Question

Presented here are the comparative balance sheets of Hames, Inc., at December 31, 2017 and 2016. Sales for the year ended December 31, 2017, totaled $580,000. HAMES, INC., Balance Sheets December 31, 2017 and 2016 2017 2016 Assets Cash $ 23,000 $ 19,000 Accounts receivable 78,000 72,000 Merchandise inventory 103,000 99,000 Total current assets $ 204,000 $ 190,000 Land 50,000 40,000 Plant and equipment 125,000 110,000 Less: Accumulated depreciation (65,000 ) (60,000 ) Total assets $ 314,000 $ 280,000 Liabilities Short-term debt $ 18,000 $ 17,000 Accounts payable 65,600 75,000 Other accrued liabilities 20,000 18,000 Total current liabilities $ 103,600 $ 110,000 Long-term debt 22,000 30,000 Total liabilities $ 125,600 $ 140,000 Stockholders’ Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively $ 74,000 $ 59,000 Retained earnings: Beginning balance $ 81,000 $ 85,000 Net income for the year 53,400 1,000 Dividends for the year (20,000 ) (5,000 ) Ending balance $ 114,400 $ 81,000 Total stockholders’ equity $ 188,400 $ 140,000 Total liabilities and stockholders’ equity $ 314,000

a. Calculate ROI for 2017. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

b. Calculate ROE for 2017. (Round your answer to 1 decimal place.)

c. Calculate working capital at December 31, 2017.

d. Calculate the current ratio at December 31, 2017. (Round your answer to 2 decimal places.)

What I got for A was 18.12%, B was 32.8% C was 101,600 D was 1.97 but the website said I was wrong

Answer 1