Antique

Antique Mills's income statement appears as follows(amounts inthousands):

Use the following ratio data Antique Mills' incomestatement:

1. Inventory turnover was 4.10 (beginning Merchandise Inventory was $ 790; ending Merchandise Inventory was $750).

2. Profit margin ratio is 10%.

Antique Mills

Income Statement

Year Ended December 31, 2018

Net Sales Revenue

$

7,000

Cost of Goods Sold

(a)

Selling and Administrative Expenses

1,690

Interest Expense

(b)

Other Expenses

160

Income Before Income Taxes

1,325

Income Tax Expense

(c)

Net Income

(d)