Question
Analyze the following financial data for SolarTech Inc. for the fiscal year ended June 30, 2023: Income Statement Amount Sales Revenue $1,100,000 Cost of Sales
Analyze the following financial data for SolarTech Inc. for the fiscal year ended June 30, 2023:
Income Statement | Amount |
Sales Revenue | $1,100,000 |
Cost of Sales | $660,000 |
Operating Expenses | $300,000 |
Net Income | $100,000 |
Balance Sheet | Amount |
Current Assets | $250,000 |
Total Assets | $550,000 |
Current Liabilities | $100,000 |
Total Liabilities | $200,000 |
Shareholders' Equity | $350,000 |
Requirements: a. Compute the current ratio. b. Calculate the net profit margin. c. Determine the return on assets. d. Evaluate the debt to equity ratio. e. Analyze the company's asset turnover ratio.
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Accounting Volume 1
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian edition
978-013309863, 9780133128338, 013309863X, 133128334, 978-0132690096
