Following Is a Comparative Balance Sheet for Wong Corporation:
$\text { Assets } \quad 2017 \quad 2016$

question 92

Essay

Following is a comparative balance sheet for Wong Corporation:
Wong Corporation
Comparative Balance Sheet
December 31,2017 and 2016 $\text { Assets } \quad 2017 \quad 2016$ Current assets
$\begin{array}{lll}\text { Cash } & \$ 12,000 & \$ 8,000 \\\text { Short-term investments } & 7,000 & 9,000 \\\text { Accounts receivable, net } & 33,000 & 20,000 \\\text { Merchandise inventory } & 47,000 & 42,500 \\\text { Prepaid expenses } &2,000&3,000 \\\text { Total current assets } & 101,000&82,500\end{array}$ $\begin{array}{lll}\text { Property, plant, and equipment, net } & 73,400 & 50,000 \\\text { Intangible assets } & \underline{29,000} & \underline{27,500} \\\text { Total assets } & \$ 203,400 & \$ 160,000\end{array}$ liabilities Current liabilities
$\begin{array}{lrr}\text { Short-term note payable } & \$ 60,000 & \$ 65,900 \\\text { Accounts payable } & 20,000 & 22,500\\\text { Total current liabilities }&80,000&88,400\end{array}$ $\begin{array}{lll}\text { Long-term debt } & {37,500} & \underline{20,000} \\\text { Total liabilities } & {117,500}&\underline{108,400}\end{array}$ Shareholders' equity
$\begin{array}{lll}\text { Common shares } & 40,000 & 40,000 \\\text { Retained earnings } & \underline{45,900} & \underline{11,600} \\\text { Total shareholders' equity } & \underline{85,900} & \underline{51,600} \\\hline\end{array}$ Total liabilities & shareholders'
$\text { equity }$$\quad$ $203,400 $\quad$ $160,000 Note: Net sales (all on credit_for the year ended December 31,2017,were $200,000,and the cost of goods sold was $120,000.
The number of common shares outstanding has been 4,000 since the company began operations.
Calculate the following ratios for the year ended December 31,2017:
a_current ratio
b_acid-test ratio
c_inventory turnover
d_accounts receivable turnover
e_debt ratio
f_book value per common share

Understand how the body maintains calcium and phosphorus levels and the role of hormones in this process.

Recognize the importance of vitamin D in bone health and how different systems contribute to its production and function.

Understand the structural features of bones and their classification.

Comprehend the processes of bone growth and development including ossification.

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