Happy's Golf Corporation recently reported the following December 31 amounts in its financial statements (in thousands): Prior

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Happy's Golf Corporation recently reported the following December 31 amounts in its financial statements (in thousands):
Prior Year Current Year
Income from Operations................... $ 1,700..................... $1,400
Net Income....................................... 850........................ 700
Total Assets.................................... 10,000..................... 9,000
Total Stockholders' Equity................... 8,000..................... 7,500
Total Revenue.................................. 9,000...................... 7,000
Compute the net profit margin ratio for the current and prior years. What do these analyses indicate?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Fundamentals Of Financial Accounting

ISBN: 9780073527109

3rd Edition

Authors: Fred Phillips, Robert Libby, Patricia A Libby

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