Flint Company Ratios Flint Company reported the following account balances in its financial statements at December 31,

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Flint Company Ratios Flint Company reported the following account balances in its financial statements at December 31, 2001:

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Compute the following:

a. Gross margin.

b. Gross margin percentage.

c. Return on assets.

d. Fixed asset turnover ratio.

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Financial Accounting A Decision Making Approach

ISBN: 9780471328230

2nd Edition

Authors: Thomas E. King, Valdean C. Lembke, John H. Smith

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Question Posted: Jun 24, 2024 01:01 AM

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Flint Company Ratios Flint Company reported the following account balances in its financial statements at December 31,

Question:

Current assets Fixed assets Total liabilities Owners' equity Total sales for 2001 Cost of goods sold for 2001 Net income for 2001 Dec. 31, 2001 Jan. 1, 2001 $200,000 $180,000 600.000 520,000 250,000 250,000 550,000 450,000 $900,000 720,000 70,000

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Financial Accounting A Decision Making Approach

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