Hong Hong Printing Company has sales totaling $40,000,000 in fiscal year 2012. Some of the ratios for the company are listed below. Use this information to determine the dollar values of the various income statement and balance sheet accounts.

Calculate values for the following:

(a) Gross profit.

(b) Cost of goods sold.

(c) Operating profit.

(d) Operating expenses.

(e) Earnings available for common shareholders.

(f) Total assets.
(g) Total common stock equity.
(h) Accounts receivable.

Transcribed Image Text:

Sales Hong Hong Printing Company Year Ended December 31, 2016 Gross Profit Margin $40,000,000 80% 35% Operating profit margin Net profit margin Return on total assets Return on common equity Total asset turnover Average collection period 8% 16% 20% 2 62.2 days