14. A company had $6,960,000 in net income for the year. Its net sales were $14,800,000 for the same period. Calculate its profit margin

16.

Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company:

Account Title	Dr.			Cr.
Cash	$	50,000
Accounts receivable		25,000
Prepaid insurance		10,200
Equipment		190,000
Accumulated depreciationEquipment				$	95,000
Land		104,000
Accounts payable					26,000
Interest payable					4,650
Unearned revenue					7,700
Long-term notes payable					57,000
Retained earnings					188,850
Totals	$	379,200		$	379,200

15.

Use the information in the adjusted trial balance presented below to calculate the current ratio for Taron Company:

Account Title	Dr.			Cr.
Cash	$	68,000
Accounts receivable		31,000
Prepaid insurance		12,600
Equipment		250,000
Accumulated depreciationEquipment				$	125,000
Land		110,000
Accounts payable					32,000
Interest payable					6,150
Unearned revenue					9,500
Long-term notes payable					75,000
Retained earnings					223,950
Totals	$	471,600		$	471,600