1.ACE manufacturing has net sales of $90,000 cost of good sold of $65,000 and operating expenses of $15,000.The gross profit margin is

2.Magna Int'l Inc is a leading global supplier of technologically advanced automobile components systems and modules. Selected financial information in (US$ millions follows)

2019 2018 2017

Sales 39431 40827 36588

cost of goods sold 34022 35055 30895

Profit for the year 1765 2296 2196

current asset 10745 11834 11200

current liabilities 8529 10304 9243

calculate the gross margin, profit margin and current ratio for each year.

2019 2018 2017

Gross margin % % %

Profit Margin % % %

Current ratio :1 :1 :1

3.If a company purchases inventory for $40000 with terms 2/10 n 30 and pays within the discounted period, the amount of cash payment is