2018 2017
Business, 05.05.2020 05:14 BlackAfro17
The following condensed information is reported by Sporting Collectibles.
2018 2017
Income Statement Information Sales revenue $ 14,820,000 $ 9,400,000
Cost of goods sold 9,544,080 6,900,000
Net income 418,000 348,000
Balance Sheet Information Current assets $ 1,700,000 $ 1,600,000
Long-term assets 2,300,000 2,000,000
Total assets $ 4,000,000 $ 3,600,000
Current liabilities $ 1,300,000 $ 1,000,000
Long-term liabilities 1,400,000 1,400,000
Common stock 900,000 900,000
Retained earnings 400,000 300,000
Total liabilities and stockholders' equity $ 4,000,000 $ 3,600,000
Required:
Calculate the following profitability ratios for 2018
Gross profit ratio %
Return on assets %
Profit margin %
Asset turnover times
Return on equity %
Answers: 1
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The following condensed information is reported by Sporting Collectibles.
2018 2017
2018 2017
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