Business, 29.04.2021 19:50 zoeheskett

Income Statement Information Sales revenue $ 12,144,000 $ 8,800,000 Cost of goods sold 7,893,600 6,300,000 Net income 382,720 288,000 Balance Sheet Information Current assets $ 1,640,000 $ 1,540,000 Long-term assets 2,240,000 1,940,000 Total assets $ 3,880,000 $ 3,480,000 Current liabilities $ 1,240,000 $ 940,000 Long-term liabilities 1,460,000 1,460,000 Common stock 840,000 840,000 Retained earnings 340,000 240,000 Total liabilities and stockholders' equity $ 3,880,000 $ 3,480,000 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)

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Income Statement Information Sales revenue $ 12,144,000 $ 8,800,000 Cost of goods sold 7,893,600 6,3...

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