011 Questions Group A Chapter AR-1A LOD Simply Mullet Company reported the follow Sales: $1,000,000 Cost of Goods Sold: $700,000 Operating Expenses: $400,000 Income Tax Rate: 20% Calculate the gross profit margin. Die gross pront margin. Umerentiate between gross profit margin and gross profit. AP-2A LO45 Trooper Nova Company reported the following. Sales Cost of Goods Sold Operating Expenses Interest Expense included in Operating Expenses Income Taxes Stockholders' Equity (Average) $2,000,000 700,000 400,000 50,000 40% of income before tax $20,000,000 Required a) Calculate net income. b) Calculate the net profit margin. Calculate the times interest earned d) Financial Statement Anal Calculate the return on equity. Banks are currently paying interest of 4% on equity, Banks are currently paying interest of 4% on deposits invested for two or more years Comment on the ratio