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As an accountant for General Motors, you are given the following financial data for the fiscal year ending December 31, 2023: Total assets: $50,000,000 Total

As an accountant for General Motors, you are given the following financial data for the fiscal year ending December 31, 2023:

  • Total assets: $50,000,000
  • Total liabilities: $30,000,000
  • Total equity: $20,000,000
  • Net income: $5,000,000
  • Sales revenue: $40,000,000
  • Cost of goods sold: $24,000,000
  • Operating expenses: $8,000,000
  • Interest expense: $1,000,000
  • Income tax expense: $2,000,000

Calculate the following ratios for General Motors for the fiscal year ending December 31, 2023:

  1. Current ratio
  2. Debt-to-equity ratio
  3. Gross margin ratio
  4. Net profit margin ratio

 

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