From the Balance Sheet and Income Statement Information below, calculate the following ratios:
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Mathematics, 18.04.2020 13:29 edson23
From the Balance Sheet and Income Statement Information below, calculate the following ratios:
[a.] Return on Sales
[b.] Current Ratio
[c.] Inventory Turnover – If there are no beginning inventory or ending inventory figures, then use the Merchandise Inventory figure.
ABC INC.
Income Statement
Year Ended December 31, 2018
Net Sales Revenue
$20,941
Cost of Goods Sold
7,055
Gross Profit
13,886
Operating Expenses
7,065
Operating Income
6,821
Interest Expense
210
Income Before Taxes
6,611
Income Tax Expense
2,563
Net Income
$4,048
ABC INC.
Balance Sheet
December 31, 2018
Assets
Current Assets
Cash
$2,450
Accounts Receivable
1,813
Merchandise Inventory
1,324
Prepaid Expenses
1,709
Total Current Assets
7,296
Long-Term Assets
18,500
Total Assets
$25,796
Liabilities
Current Liabilities
$7,320
Long-Term Liabilities
4,798
Total Liabilities
12,028
Stockholders’ Equity
Common Stock
6,568
Retained Earnings
7,200
Total Stockholders’ Equity
13,768
Total Liabilities & Stockholders’ Equity
$25,796
1.
NOTES: 1- Round up
2- Your responses should be in the following formats
a. XX%
b. x. xx
c. x. xx
Answers: 3
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