Question
Analyze the financial statements of Goldcrest Enterprises for the fiscal year ended December 31, 2023. The balance sheet indicates total assets of $800,000, with current
· Analyze the financial statements of Goldcrest Enterprises for the fiscal year ended December 31, 2023. The balance sheet indicates total assets of $800,000, with current assets amounting to $300,000. Liabilities stand at $200,000, including $50,000 in current liabilities. Shareholders' equity is reported at $600,000. Meanwhile, the income statement reveals sales revenue of $400,000, cost of goods sold of $150,000, operating expenses of $100,000, and net income of $50,000. Calculate the following financial ratios for Goldcrest Enterprises:
- Current ratio
- Quick ratio
- Debt-to-equity ratio
- Return on assets
- Return on equity
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