8.Quick Ratiofor 20209.Working Capitalfor 2020

9.Working Capitalfor 2020

MAN LAUGH INC. Accounting Information: The Company uses 365 days as days in a year. 2019 2020 Debit Credit Debit Credit 4,000 8,000 Account payable Account Receivable 22,600 18,100 28,000 56,000 Accumulated Depreciation Medical Equipment Capital Stock (180,000 common stock outstanding) Cash Dividends Income Tax Payable Inventory Marketable security Medical Equipment Notes Payable Office Supplies Prepaid Rent Retained Earnings Unearned Medical Fees TOTAL 540,000 540,000 88,500 125,800 44,000 22,000 6,300 12,000 250800 210000 40500 504200 480,000 540,000 48,000 248,000 16,000 16,000 24,000 50,000 220,680 540,250 119,420 81,850 966,400 966,400 1,486,100 1,486,100 Gross Profit on sales 640,000 780,000 Income before income tax Net income 530,000 351,000 590,000 420,200 Net income as a percentage of net sales 15% 12%